The Credit Suisse Nasdaq Gold FLOWS 103 Index and the Credit Suisse Nasdaq Silver FLOWS 106 Index have concluded the notional sale of options on GLD shares and SLV shares with July expiration.
The company expects that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on 15 July 2013, subject to adjustment in the event of any market disruption events.
Assuming no redemption or acceleration of the ETNs and that the notional cash distribution is withdrawn from the Indices on 15 July 2013, Credit Suisse expects to declare a coupon of USD0.1717 per ETN on the GLDI ETNs and a coupon of USD0.2497 per ETN on the SLVO ETNs for payment on or around 25 July 2013, payable to the holder of record on 22 July 2013.
The expected coupon payments represent an indicative yield of 12.34 per cent per annum on the GLDI ETN and an indicative yield of 16.04 per cent per annum on the SLVO ETN. The “indicative yield” equals the expected coupon payment annualised and divided by the closing price of the applicable ETN on 17 June 2013.
