Corporate Press Release

Press Release

Credit Suisse Announces the Launch of AxelaTraderTM 3x Long and 3x Inverse Brent Crude Oil ETNs

Credit Suisse today announced the launch of its AxelaTraderTM 3x Long Brent Crude Oil ETNs linked to the S&P GSCI® Brent Crude Oil ER and its AxelaTraderTM 3x Inverse Brent Crude Oil ETNs linked to the S&P GSCI® Brent Crude Oil ER (the "ETNs"), which Credit Suisse intends to list on the NYSE Arca under the ticker symbols "UBRT" and "DBRT," respectively, and which are eligible to begin trading today.

ETNs Profile

 

UBRT

DBRT

Issuer

Credit Suisse AG

Credit Suisse AG

Index (Bloomberg Ticker)

S&P GSCI® Brent Crude Oil ER (SPGSBRP)

S&P GSCI® Brent Crude Oil ER (SPGSBRP)

Inception Date

9/14/2017

9/14/2017

Maturity Date

9/14/2037

9/14/2037

Primary Exchange2

NYSE Arca

NYSE Arca

Leverage Amount

300%

-300%

Leverage Reset

Daily

Daily

Investor Fee Factor1

1.35%

1.65%

CUSIP

22539T258

22539T241

1 The Investor Fee Factor is used to calculate the ETNs" Daily Investor Fee.  In addition to the Daily Investor Fee, you will incur an Early Redemption Charge if your ETNs are redeemed directly with Credit Suisse AG.  Please see the Pricing Supplement for a description of fees and charges associated with the ETNs.  Please consult your financial advisor to learn more about the costs associated with the purchase or sale of the ETNs in the secondary market.

We have no obligation to maintain any listing on NYSE Arca or on any other exchange or quotation system. Under certain circumstances, the ETNs may be subject to delisting by the NYSE Arca. We do not intend to list the ETNs on any other exchange.

"Brent crude oil is used as a benchmark to price roughly two-thirds of the crude oil supply traded in the world, but investors seeking exposure to Brent crude oil through an exchange-traded security have very limited options, " said Paul Somma, head of Exchange Traded Notes at Credit Suisse. "These ETNs provide a way for sophisticated investors to implement innovative short-term trading and hedging strategies based on the ETNs’ leveraged exposure to Brent crude oil futures contracts."

About the ETNs and the Index

The ETNs seek to provide a 3x leveraged long or 3x leveraged inverse return, as applicable, based on the daily performance of the S&P GSCI® Brent Crude ER (the "Index") (as adjusted for fees). The ETNs do not attempt to, and should not be expected to, provide returns that reflect 3-to-1 positive or inverse leverage on the return of the Index for periods longer than a single day. The ETNs rebalance their theoretical exposure on a daily basis, increasing exposure in response to that day’s gains or reducing exposure in response to that day’s losses. The ETNs are intended to provide traders and similarly sophisticated investors with an exchange traded security that allows them to express their short-term market views on the performance of Brent crude oil futures contracts composing the Index. The Index tracks a hypothetical position in the nearest-to-expiration ICE Futures Europe Brent crude oil futures contract, where that position is rolled each month into the futures contract expiring in the next month. The Index is calculated by S&P Dow Jones Indices LLC and its levels are disseminated real-time under the Bloomberg ticker symbol "SPGSBRP" and the Reuters instrument code ".SPGSBRP".

More information on the ETNs can be found on: www.credit-suisse.com/AxelaTraderETNs