The Credit Suisse X-Links® Exchange Traded Notes (The "ETNs") Have Announced Their Coupon Payments And Expected Coupon Payments‍

1.  The notional sale of options on GLD shares, SLV shares, and USO shares, with April 2023 expiration, was completed on March 13, 2023 by the Credit Suisse Nasdaq Gold FLOWSTM 103 Index, Credit Suisse Nasdaq Silver FLOWSTM 106 Index, and Credit Suisse Nasdaq WTI Crude Oil FLOWSTM 106 Index (the "Indices").

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As a result of this option sale, we expect to withdraw the notional cash distribution generated by this transaction.

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It is expected that the Indices will be released from April 17, 2023 if any market disruption events occur. We anticipate that, based on our assumption that there will be no redemption of GLDI, SLVO or USOI, and that the notional cash distribution from the Indices will be withdrawn from the Indices by April 17, 2023, we will have to declare for each Index the same Coupon Amount as the Expected Coupon Amount.  If any disruption event or any other unforeseen circumstance occurs, the Expected Coupon Amount may need to be adjusted as a result.

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2. The Expected Current Yield for each ETN is equal to the Expected Coupon Amount divided by the Closing Indicative Value, as discussed below in more detail. ETNs' Expected Current Yield is not indicative of future coupon payments, if any, since it is determined by their Expected Coupon Amount and two most recent coupon payments.  

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A volatile market may result in significant variation in coupon payments on an ETN. If the Closing Indicative Value fluctuates widely, future coupon payments may differ significantly from the Expected Current Yield. There is no guarantee that the ETNs will pay you coupons or distribute them to you. Coupon payments are variable rather than fixed, periodic interest payments. ETNs may have a significant difference in Expected Coupon Amounts from coupon period to coupon period or may even be zero. 

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This may result in a significant change in Expected Current Yield over time.  There are no guarantees as to whether Credit Suisse will be able to meet its obligations related to the ETNs as they become due.  I would recommend that you read the price supplement of any ETN for further information regarding its coupon payments.

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3.  The sum of I the Estimated Coupon Amount plus (ii) the amount of the ETN's two most recent loan repayments, multiplied times four (to annualize such amounts), divided by Closing Indicative Value, and adjusted to two decimal places for ease of analysis, is the Expected Current Yield for the ETN. In the case of a disruption event or other unanticipated events, the Estimated Current Yield may change.

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If an investor wishes to invest in the ETNs, they should only do so as a result of obtaining an understanding of the potential consequences of investing in the ETNs. ETNs are subject to the credit risk of Credit Suisse and may result in a lower principal amount at maturity or upon repurchase or sale as the result of Credit Suisse's credit risk. The coupon payments will vary from one ETN to another, and may even be zero on some ETNs. Any investor in the ETNs does not own or hold any ownership interest in any actual asset portfolio. Investing in the ETNs involves significant risks. An ETN investor does not have voting rights, distribution rights or any other right to the assets incorporated into the tracked indexes. The ETNs are subject to a number of significant risks associated with them. Please refer to the relevant pricing supplement for further information about these risks.

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Credit Suisse

In addition to its leading wealth management franchise, Credit Suisse has also developed a strong asset management capability, as well as a broad range of market access capabilities and has become one of the leading financial services firms in the world. Credit Suisse's approach to wealth management is based on the principle of following a balanced approach, which strives to capitalize on both the huge wealth in mature markets as well as the significant growth of wealth in Asia Pacific and other emerging markets, while also serving key developed markets in Switzerland. In addition to employing more than 50,000 people, Credit Suisse Group AG is listed as a Swiss public company. Its registered shares (CSGN) are listed in Switzerland and, in American Depositary Shares form (CS), in New York, where they are listed as American Depositary Shares.