Credit Suisse increases cap for VelocityShares Daily 2x VIX Short-Term ETNs to $700 million

By Angela McDaniels

Tacoma, Wash., June 27 - Credit Suisse AG, Nassau Branch increased the maximum principal amount of 0% VelocityShares Daily 2x VIX Short Term exchange-traded notes it plans to issue to $700 million from $500 million, according to a 424B2 filing with the Securities and Exchange Commission.

The notes mature Dec. 4, 2030 and are linked to the S&P 500 VIX Short-Term Futures index.

In November 2010, the issuer said it planned to issue up to $100 million of the notes. It increased this amount to $200 million on March 30, to $300 million on April 8 and to $500 million on May 31. So far, it has priced $363.5 million principal amount of the notes at prices ranging from 35.52 to 102.88.

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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