Credit Suisse plans to issue $100 million more VelocityShares Daily 2x VIX Short-Term ETNs

By Marisa Wong

Madison, Wis., March 30 - Credit Suisse AG, Nassau Branch has increased the maximum principal amount of 0% VelocityShares Daily 2x VIX Short-Term exchange-traded notes due Dec. 4, 2030 linked to the S&P 500 VIX Short-Term Futures index to $200 million, according to a 424B2 filing with the Securities and Exchange Commission.

In November, the issuer said it planned to issue up to $100 million of the notes. Since then, it has priced $85.5 million principal amount of the notes in 11 tranches at prices ranging from 35.52 to 102.88.

Most recently, the issuer priced $15 million of the notes on March 25 at 37.99 for proceeds of $5,698,500 and $10 million of the notes on March 28 at 38.33 for proceeds of $3,833,000.

The index is designed to provide investors with exposure to one or more maturities of futures contracts on the CBOE Volatility index, which reflect implied volatility of the S&P 500 index at various points along the volatility forward curve.

The notes (Cusip: 22542D761) are listed on the NYSE Arca under the ticker symbol "TVIX."

Credit Suisse Securities (USA) LLC is the agent.

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