Credit Suisse updates offer amount of X-Links crude covered call ETNs

By Marisa Wong

Los Angeles, April 22 – Credit Suisse AG, Nassau Branch updated the offering amount for its Credit Suisse X-Links Crude Oil Shares Covered Call ETNs due April 24, 2037 (Nasdaq: USOI, Cusip: 22539U602) linked to the Credit Suisse Nasdaq WTI Crude Oil Flows 106 index, according to a 424B2 filing with the Securities and Exchange Commission.

The amount was set at $470,745,000, or 941,490 notes with a par amount of $500 each.

As of April 16, there were 4,650,730 ETNs, or $2,325,365,000 principal amount, issued and outstanding.

On Sept. 19, 2022, the issuer had announced a 1-for-20 reverse split of the ETNs, which took effect on Sept. 27, 2022. The stated principal amount was increased to $500 from $25, and the Cusip was updated (originally 22539T266).

The original ETNs were issued at par on April 25, 2017. Additional ETNs are to be sold from time to time at variable prices.

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