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Credit Suisse AG Announces the Reverse Split of its TVIX, TVIZ, VIIX and USLV ETNs

Credit Suisse AG Announces the Reverse Split of its TVIX, TVIZ, VIIX and USLV
                                     ETNs

PR Newswire

NEW YORK, Aug. 22, 2013

NEW YORK, Aug. 22, 2013 /PRNewswire/ --Credit Suisse AG announced today that
effective August 30, 2013, it will implement 1-for-10 reverse splits of its
VelocityShares™ Daily 2x VIX Short Term ETN ("TVIX"), Daily 2x VIX Medium Term
ETN ("TVIZ") and VIX Short Term ETN ("VIIX") and its VelocityShares™ 3x Long
Silver ETN ("USLV").

(Logo: http://photos.prnewswire.com/prnh/20091204/CSLOGO)

The reverse splits will affect the trading denominations of these ETNs but it
will not have any effect on the principal amount of the underlying notes,
except in the cases of "partial ETNs."

The closing indicative value of each series of these ETNs on August 29, 2013
will be multiplied by ten to determine their respective reverse split-adjusted
closing indicative values. The reverse splits will be effective at the open of
trading on August 30, 2013 and these ETNs will begin trading on the NYSE Arca
on a reverse split-adjusted basis on such date. Following the reverse splits,
each series of these ETNs will have a new CUSIP but will retain the same
ticker symbol.

On September 4, 2013, holders of record will receive one reverse
split-adjusted ETN for every ten units of the relevant series of ETNs. In
addition, such holders of record that hold a number of units of ETNs that is
not evenly divisible by ten will receive a cash payment for any number of
units remaining of such series of ETNs (the "partials"). The cash amount due
on any partials will be determined on September 5, 2013, based on the
respective closing indicative value of each series of these ETNs on such date
and will be paid by Credit Suisse AG on September 6, 2013.

None of the other ETNs offered by Credit Suisse AG are affected by these
announcements.

Reverse Split                              Ticker Symbol CUSIP/New CUSIP
VelocityShares™ Daily 2x VIX Short Term    TVIX          22539T852 / 22539T613
ETN due December 4, 2030
VelocityShares™ Daily 2x VIX Medium Term   TVIZ          22542D779 / 22539T100
ETN due December 4, 2030
VelocityShares™ VIX Short Term ETN due     VIIX          22542D811 / 22539T621
December 4, 2030
VelocityShares™ 3x Long Silver ETN due     USLV          22542D662 / 22539T597
October 14, 2031

Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers
and is part of the Credit Suisse group of companies (referred to here as
'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer
clients its expertise in the areas of private banking, investment banking and
asset management from a single source. Credit Suisse provides specialist
advisory services, comprehensive solutions and innovative products to
companies, institutional clients and high net worth private clients worldwide,
and also to retail clients in Switzerland. Credit Suisse is headquartered in
Zurich and operates in over 50 countries worldwide. The group employs
approximately 46,300 people. The registered shares (CSGN) of Credit Suisse's
parent company, Credit Suisse Group AG, are listed in Switzerland and, in the
form of American Depositary Shares (CS), in New York. Further information
about Credit Suisse can be found at www.credit-suisse.com.



SOURCE Credit Suisse AG

Website: http://www.credit-suisse.com
Contact: Katherine Herring, Credit Suisse, telephone +212-325-7545,
katherine.herring@credit-suisse.com
 
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