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Credit Suisse 2x Monthly Leveraged Merger Arbitrage Liquid Index ETN due 3/13/31
Ticker Symbol: CSMB* CUSIP: 22542D753 Exchange: NYSEA
* NOTE: This security is no longer trading as of 7/02/2015
Company's Online Profile
BUSINESS: Credit Suisse 2x Monthly Leveraged Merger Arbitrage Liquid Index Exchange Traded Notes (ETN) due on March 13. 2031 are senior, unsecured debt securities, medium-term notes, issued by Credit Suisse AG, acting through its Nassau Branch. INVESTMENT OBJECTIVE: The Credit Suisse 2x Monthly Leveraged Merger Arbitrage Liquid Index ETN is designed to reflect a leveraged exposure to the performance of the Credit Suisse Merger Arbitrage Liquid Index on a monthly basis, but their returns over longer periods of time can, and most likely will, differ significantly from two times the return on a direct investment in the Index. The ETNs are very sensitive to changes in the performance of the Index and returns on the ETNs may be negatively impacted in complex ways by volatility of the Index on a monthly basis. Accordingly, the ETNs should be purchased only by knowledgeable investors who understand the potential consequences of investing in the Index and of seeking monthly compounding leveraged investment results. Investors should actively and frequently monitor their investments in the ETNs. INDEX DESCRIPTION: The Credit Suisse Merger Arbitrage Liquid Index uses a quantitative methodology to track a dynamic basket of securities held as long or short positions (the index components) and cash weighted in accordance with certain rules to include publicly announced merger and acquisition transactions that meet certain qualifying conditions. It is designed to capture the spread, if any, between the price at which the stock of a target company trades after a proposed acquisition of such target company is announced and the price that the acquiring company has proposed to pay for the stock of such target company. The spread between these two prices typically exists due to the uncertainty that the announced merger or acquisition will close and, if it closes, that such merger or acquisition will be at the initially proposed economic terms. RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the Index, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. At maturity, March 13. 2031, you will receive a cash payment equal to the closing value of your ETNs on the final valuation date. REDEMPTION AND FEES: You may offer the applicable minimum repurchase amount or more of your ETNs to Credit Suisse for repurchase on any business day during the term of the ETNs until March 6, 2031. The minimum repurchase amount will be equal to $1,000,000 stated principal amount of ETNs (50,000 ETNs). The trading day immediately succeeding the date you offer your ETNs for repurchase will be the valuation date applicable to such repurchase. If you elect to offer your ETNs for repurchase and the requirements for acceptance by Credit Suisse are met, you will receive a cash payment in an amount equal to the daily repurchase value, which is the closing value of the ETNs on the applicable valuation date. Credit Suisse Securities may charge investors an additional fee of up to $0.03 for each ETN that is repurchased at the investor’s option. The investor fee is equal to 0.55% per annum accrued on a daily basis. For calculations of fees and any further information on this ETN click on the Link to IPO Prospectus provided.
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Notes: June 19, 2015-- Credit Suisse AG announced today that it will repurchase at its option its Credit Suisse X-Links HOLT™ Market Neutral Global Equity ETNs (CSMN) and Credit Suisse X-Links 2xLeveraged Merger Arbitrage ETNs (CSMB). The repurchase date for each of CSMN and CSMB is expected to be July 6, 2015. Credit Suisse AG expects to deliver an irrevocable call notice with respect to the repurchase of CSMN and CSMB to The Depository Trust Company no later than June 30, 2015. The trading day immediately following the date of such irrevocable call notice, which is expected to be July 1, 2015, will be the valuation date applicable to the repurchase of each of CSMN and CSMB, subject to postponement due to certain events. Investors will receive a cash payment per ETN in an amount equal to the closing indicative value of CSMN or closing value of CSMB, as applicable, on the valuation date. The repurchase date for each ETN is expected to be July 6, 2015, three business days after the respective valuation date. Accordingly, the last day of trading for each ETN is expected to be July 2, 2015.
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IPO - 3/7/2011 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $32.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: Eleven Madison Ave., 3rd Floor, NY, NY 10010 |
| Main Phone Number |
212-325-2000 |
| Fax Number |
212-325-6665 |
| Investor Contact
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888-537-4898
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| Toll Free Phone Number |
888-537-4898 |
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