Credit Suisse announced today that it will redeem four ETNs. Credit Suisse AG will accelerate for early redemption its VelocityShares™ 2x Long Platinum ETNs (“LPLT”), 2x Inverse Platinum ETNs (“IPLT”), 3x Long Brent Crude ETNs (“UOIL”) and 3x Inverse Brent Crude ETNs (“DOIL”), in each case on December 27, 2013.
|Acceleration for Early Redemption||Ticker Symbol||CUSIP|
|VelocityShares™ 2x Long Platinum ETN due October 14, 2031||LPLT||22542D647|
|VelocityShares™ 2x Inverse Platinum ETN due October 14, 2031||IPLT||22542D639|
|VelocityShares™ 3x Long Brent Crude ETN due February 9, 2032||UOIL||22542D597|
|VelocityShares™ 3x Inverse Brent Crude ETN due February 9, 2032||DOIL||22542D555|
Credit Suisse expects to deliver notice via The Depository Trust Company of the acceleration for early redemption of LPLT, IPLT, UOIL and DOIL no later than December 13, 2013. Investors will receive a cash payment per ETN equal to the arithmetic average of the closing indicative values of such ETNs during their respective accelerated valuation periods. The accelerated valuation periods in each case will be a period of five consecutive index business days, which is expected to be fromDecember 17, 2013, to December 23, 2013. The acceleration date for each ETN is expected to be December 27, 2013, three business days after the last day of the respective valuation period. Accordingly, the last day of trading for each ETN will beDecember 26, 2013.
None of the other ETNs offered by Credit Suisse are affected by these announcements.
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,400 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
SOURCE Credit Suisse AG