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Credit Suisse AG Market Neutral Equity due 9/22/31
Ticker Symbol: CSMN* CUSIP: 22542D720 Exchange: NYSEA
* NOTE: This security is no longer trading as of 7/02/2015
Company's Online Profile
BUSINESS: Credit Suisse AG Market Neutral Equity Exchange Traded Note (ETN) Linked to the HS Market Neutral Index Powered by HOLT due September 22, 2031 are senior medium-term notes, unsecured debt securities issued by Credit Suisse AG acting through its Nassau Branch. INVESTMENT OBJECTIVE: The Credit Suisse Market Neutral Equity ETNs are designed for investors who seek exposure to the performance of the HS Market Neutral Index Powered by HOLT (the Index). The ETNs should be purchased only by knowledgeable investors who understand the potential consequences of investing in this ETN. INDEX DESCRIPTION: The HS Market Neutral Index Powered by HOLT reflects the difference in return between two equally weighted constituent sub-indices, the Long Total Return Index (the long index) and the Short Total Return Index (the short index). Each quarter, a universe of 750 stocks consisting of the top, by market capitalization, 275 North American stocks, 300 European stocks, the top also by liquidity. and 175 Japanese stocks is identified from the HOLT database, which currently includes some 20,000 stocks globally. The HOLT scoring methodology is used to rank such 750 stocks so that approximately the top 75 stocks will comprise the long index and the bottom 75 stocks will comprise the short index for that period, subject to region and sector neutrality. In order to qualify for inclusion in the long index, stocks are evaluated based on the following criteria according to the HOLT scoring model: they should (i) be undervalued; (ii) have positive stock market momentum; and (iii) display positive corporate performance. To qualify for inclusion in the short index, stocks are evaluated on the overall criteria: they should (i) be overvalued; (ii) have negative stock market momentum; and (iii) display negative corporate performance. The number of stocks in the short index will always equal the number of stocks in the long index. 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 strategy that is intended to achieve stable returns while reducing risk and reflects the difference in return between two equally weighted constituent sub-indices, referred to as the long index and the short index. If your Securities have not previously been repurchased by Credit Suisse, at maturity, September 22, 2031, you will receive a cash payment equal to the principal amount of your Securities times the index factor on the final valuation date times the fee factor on the final valuation date. REDEMPTION AND FEES: You may offer 50,000 Securities or more to Credit Suisse for repurchase on any business day during the term of the Securities on or prior to September 15, 2031. If you elect to offer your Securities 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 principal amount of your Securities to be repurchased times the index factor on the applicable valuation date times the fee factor 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 1.05% 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 - 9/20/2011 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $14.8 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 |
212-538-7333 |
| Fax Number |
212-325-6665 |
| Investor Contact
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212-538-7333
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| Toll Free Phone Number |
888-537-4898 |
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