Following completion of the merger of UBS AG and Credit Suisse AG, Credit Suisse AG’s business was transferred to UBS AG, and Credit Suisse AG ceased to exist. At this time however, the two entities did not operationally merge and, as a result, we continue to have two sets of operational infrastructure and processes during this transitionary period.
Consequently UBS AG is now the sole parent entity and all direct subsidiaries of Credit Suisse AG have become direct subsidiaries of UBS AG, and all branches of Credit Suisse AG have been absorbed into existing or established as new branches of UBS AG (as the case may be). As such, Credit Suisse AG’s branches have been renamed as UBS Branches, with the exceptions of Credit Suisse AG, Taipei Securities Branch and Credit Suisse AG Shanghai Branch.
Click hereAll about the Parent Bank Merger for the latest updates on how we continue to serve clients.
This material was produced and issued in Europe by Credit Suisse Securities (Europe) Limited ("CSSE"), which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority ("FCA") and the Prudential Regulation Authority ("PRA") in the United Kingdom. It is directed exclusively at professional clients and eligible counterparties of CSSE and is not for distribution to retail clients, as defined by the rules of the FCA, under any circumstances.
Information and opinions contained herein have been compiled or arrived at by CSSE or any of its affiliates (together "Credit Suisse") solely for your information. Accordingly, Credit Suisse does not accept liability for any loss arising from the use of such information and opinions and does not make any representation or warranty, express or implied, as to their accuracy or completeness. This document is not to be relied upon as such or used in substitution for the exercise of independent judgement. Any opinions expressed herein reflect a judgement at the date of publication, are preliminary in nature and are subject to change. Credit Suisse may have issued, or may issue, other documents that are inconsistent with, and reach different conclusions from, the information presented herein. Such documents reflect the different assumptions, views and analytical methods of the individuals who prepared them.
These materials may not be used or relied upon for any purpose other than as specifically contemplated by a written agreement with Credit Suisse.
Credit Suisse has adopted policies and guidelines designed to preserve the independence of its research analysts. Credit Suisse's policies prohibit employees from directly or indirectly offering a favourable research rating or specific price target, as consideration for or an inducement to obtain business or other compensation. Credit Suisse's policies prohibit research analysts from being compensated for their involvement in investment banking transaction except to the extent such participation is intended to benefit investor clients.
Credit Suisse may, to the extent permitted by law, participate or invest in other financing transactions with the issuer(s) of any securities referred to herein (the "Securities"), perform services for or solicit business from or publish research on such issuers, and/or have a position or effect transactions in the Securities or options thereon. Credit Suisse may, to the extent permitted by applicable UK law or other applicable law or regulation, act upon or use the above material or the conclusions stated therein or the research or the analysis on which they are based, before the material is published to recipients.
NOTE: DERIVATIVE TRANSACTIONS These materials may contemplate the entry by you into a structured equity or equity derivatives transaction (including stock lending arrangements and transactions inOTC or securities form) (a "derivatives transaction") with Credit Suisse. By entering into a derivatives transaction with Credit Suisse, you acknowledge that you have read and understood the following terms. Please note that in connection with any derivatives transaction, Credit Suisse will be acting solely as an arm's length contractual counterparty and not as your financial, tax, legal, or accounting adviser or fiduciary, unless it has agreed to do so in writing. This is the case notwithstanding any other relationship that Credit Suisse may have with you. Nothing in these materials shall constitute advice or a recommendation by Credit Suisse with respect to your underlying business decision to enter into any such derivatives transaction. Accordingly, before entering into a derivatives transaction you should ensure that you fully understand its potential risks and rewards and independently determine that it is appropriate for you, given your objectives, experience, financial and operational resources, constitutional and other restrictions, and any other relevant circumstances. You should consult with such advisers as you deem necessary to assist you in making these determinations. Neither the receipt of this document nor any information contained herein constitutes, or shall be relied upon as constituting, the giving of investment advice by Credit Suisse to you. Any indicative terms provided in this document or in connection with the same, are provided for your information and do not constitute an offer, a solicitation of an offer, or any advice or recommendation to conclude any transaction (whether on the indicative terms or otherwise). Any indicative price quotations, disclosure materials or analyses provided to you in connection therewith have been prepared on assumptions and parameters that reflect good faith determinations by Credit Suisse or that have been expressly specified by you and do not constitute advice by us. The assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness or reasonableness of any such quotations, disclosure or analyses. No representation or warranty is made that any indicative performance or return indicated will be achieved in the future. None of the employees or agents of Credit Suisse are authorised to amend or supplement the terms of this notice, other than in form of a written instrument, duly executed by an appropriately authorised signatory and countersigned by you.
This document is provided to you in confidence and you may not disclose its contents to any person nor summarise, excerpt from or otherwise publicly refer to the document without the prior written consent of CSSE.
