Credit Suisse Announces August Monthly Coupon Payments Of $0.3479 Per ETN On Its Gold Shares Covered Call ETN (ticker Symbol "GLDI") And $0.3319 Per ETN On Its Silver Shares Covered Call ETN (ticker Symbol "SLVO")
NEW YORK, Aug. 12, 2013 /PRNewswire/ -- On August 12, 2013, Credit Suisse declared $0.3479 per ETN monthly Coupon Payment for the Gold Shares Covered Call ETN (the "GLDI ETN") and declared $0.3319 per ETN monthly Coupon Payment for the Silver Shares Covered Call ETN (the "SLVO ETN"). The respective Coupon Payments are payable on August 27, 2013 to holders of record on August 21, 2013. The ex-dividend date is August 19, 2013.
The Coupon Payments represent a current yield of approximately 26.69% per annum on the GLDI ETN and a current yield of approximately 22.93% per annum on the SLVO ETN. The "current yield" equals the current monthly Coupon Payment annualized and divided by the Closing Indicative Value of the applicable ETN on August 9, 2013.
The current yield is not indicative of future monthly Coupon Payments, if any, on the ETNs. The monthly Coupon Payments (if any) are variable and dependent on the premium generated by the notional sale of options on the GLD shares or the SLV shares, as applicable, and such payments do not represent fixed periodic interest payments.The ETNs may not be suitable for all investors and should be purchased only by knowledgeable investors who understand the potential consequences of investing in the ETNs. The ETNs are subject to the credit risk of Credit Suisse AG. You may receive less, and possibly significantly less, than the principal amount of your investment at maturity or upon repurchase or sale. The ETNs are not linked to, and investors have no rights to any physical commodity. Monthly coupon payments on the ETNs will vary and could be zero. Variable monthly coupons are generated from selling covered calls, which limits upside participation. There is no actual portfolio of assets in which any investor in the ETNs has any ownership or other interest. An investment in the ETNs involves significant risks. For further information regarding risks, please see the section entitled "Risk Factors" in the applicable pricing supplement.
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