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Credit Suisse Cushing 30 MLP Index ETN due on 4/20/2020
Ticker Symbol: MLPN* CUSIP: 22542D852 Exchange: NYSEA
* NOTE: This security is no longer trading as of 11/28/2016
Company's Online Profile
BUSINESS: Credit Suisse Cushing 30 MLP Index Exchange Traded Notes (ETN) due on April 20. 2020 are senior, unsecured debt securities, medium-term notes, issued by Credit Suisse AG, acting through its Nassau Branch. INVESTMENT OBJECTIVE: The Credit Suisse Cushing 30 MLP Index ETN is designed for investors who seek exposure to the Cushing 30 MLP Index. INDEX DESCRIPTION: The Cushing 30 MLP Index tracks the performance of 30 companies which hold mid-stream energy infrastructure assets in North America. The securities considered for inclusion in the Index must be publicly traded securities that represent either the limited or general partner interests of a partnership that is an operating company, or common units of a limited liability company that is an operating company (each, an MLP). We refer to MLPs whose securities are included in the Index as Constituent MLPs. The mid-stream energy sector involves the gathering, processing, transportation and storage of crude oil and natural gas. The Index is periodically rebalanced so that the securities of the Constituent MLPs are equally-weighted. 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, April 20. 2020, you will receive a cash payment, per $20 principal amount ETN, equal to (a) the product of (i) $20 and (ii) the Index Factor on the Final Valuation Date, plus (b) the final Coupon Payment determined on the Final Valuation Date, if any, minus (c) the fee shortfall on the Final Valuation Date, if any. REDEMPTION AND FEES: You may offer $1,000,000 stated principal amount (50,000 ETNs) or more of your ETNs to Credit Suisse for repurchase on any Business Day during the term of the ETNs until the Business Day immediately preceding the last scheduled Valuation Date that is not the Final Valuation Date, which we anticipate will be April 7, 2020. 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 a cash payment per $20 principal amount ETN equal to (a) the product of (i) $20 and (ii) the Index Factor on the applicable Valuation Date, plus (b) the Coupon Payment determined on the applicable Valuation Date, if any, minus (c) the fee shortfall on such Valuation Date, if any. In no event, however, will the daily repurchase value be less than zero. In addition, you will receive the Coupon Payment with respect to the Coupon Valuation Date immediately preceding the applicable Valuation Date if, on the relevant Valuation Date, the Ex-Date with respect to such Coupon Payment has not yet occurred. 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 0.85% 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: Nov. 10, 2016 -- Credit Suisse plans to delist its second-largest ETN on or around Nov. 28. The Credit Suisse X-Links Cushing MLP Infrastructure ETN (MLPN). According to a press release, the firm intends to repurchase all the shares outstanding of MLPN after issuing an irrevocable call notice, with investors set to receive their cash payment on or around Dec. 2.
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IPO - 4/13/2010 -
Link to IPO Prospectus
Previous Name: Exchange Traded Notes due 4/20/2020 Linked to the Cushing 30 MLP Index Changed: 8/14/2013
Small Cap Stock -
Market Value $179.0 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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