Credit Suisse is delisting and repurchasing the Credit Suisse X-Links Cushing MLP Infrastructure exchange traded notes (ETNs) due 20 April 2020.
Credit Suisse intends to withdraw the NYSE Arca listing of the ETNs effective on or about 28 November 2016. Upon the effective delisting date, the ETNs will no longer be listed on any national stock exchange.
Credit Suisse intends to delist the ETNs in order to repurchase all of the outstanding ETNs. It has the right to repurchase the ETNs in whole in the event the ETNs are not currently listed on a national stock exchange. It intends to deliver an irrevocable call notice with respect to its repurchase of the ETNs to DTC on or about 28 November 2016.
The company anticipates that the ETNs will continue to trade on NYSE Arca up to and including 25 November 2016.
As described in the pricing supplement relating to the ETNs, investors will receive a cash payment on the repurchase date, expected to be on or about 2 December 2016, in an amount equal to the daily repurchase value, which is based on the closing indicative value of the ETNs on the valuation date, which is expected to be on or about 29 November 2016 (the trading day immediately following the date the irrevocable call notice is delivered to DTC).
