UBS Announces Assumption of Three Outstanding Credit Suisse ETNs; Rebranding as “ETRACS”
UBS Group AG announced on May 31, 2024, that it has completed the merger of UBS AG and Credit Suisse AG (the “Parent Bank Merger” or “PBM”).
- UBS Group AG announced on May 31, 2024, that it has completed the merger of UBS AG and Credit Suisse AG (the “Parent Bank Merger” or “PBM”).
- At the effective time of the PBM, Credit Suisse AG was deregistered in the Commercial Register of the Canton of Zurich and has ceased to exist as a separate entity.
- With the PBM, UBS AG has succeeded to all the rights and obligations of Credit Suisse AG, including under the three outstanding series of Exchange Traded Notes previously issued by Credit Suisse AG listed below (collectively, the “ETNs”).
- In connection with the PBM and the assumption of Credit Suisse AG’s obligations under such ETNs, UBS AG rebranded each of the ETNs, which were formerly issued under the “X-Links®” brand, as “ETRACS.” Following the PBM, each of the ETNs will remain traded on NASDAQ under the same ticker symbol, will have the same CUSIP identifiers, and the terms and conditions applicable to each of the ETNs will remain the same.