Credit Suisse AG announced today that it will accelerate at its option its Credit Suisse X-Links Commodity Benchmark Exchange Traded Notes (ETNs) due June 15, 2033 (“CSCB“). The acceleration date is expected to be January 28, 2016.
Credit Suisse AG expects to deliver a notice of optional acceleration with respect to the acceleration of CSCB to The Depository Trust Company on or about January 14, 2016. The accelerated valuation period is a period of five consecutive trading days expected to be from and including January 19, 2016 to and including January 25, 2016, the first trading day of which will be at least two business days immediately following the date of the delivery of the notice of optional acceleration, subject to postponement due to certain events. Investors will receive a cash payment per ETN in an amount equal to the arithmetic average of the closing indicative values of CSCB during the accelerated valuation period. The acceleration date for the ETNs is expected to be January 28, 2016, which is three business days after the last trading day in the accelerated valuation period. Accordingly, the last day of trading for the ETNs is expected to be January 27, 2016.