Credit Suisse Silver Shares Covered Call ETN (SLVO) - NASDAQ

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SLVO Description
The Silver Shares Covered Call ETNs are linked to the Credit Suisse NASDAQ Silver FLOWSTM 106 Index, which seeks to track the return of a "covered call" strategy on the shares of the iShares® Silver Trust (the "SLV Shares"). The ETNs pay a monthly variable coupon based on the notional option premiums received from the sale of covered call options within the index. The index reflects changes in the price of the SLV Shares and the notional option premiums received from the sale of monthly call options on the SLV Shares less notional trading costs incurred in connection with the covered call strategy. The ETNs do not guarantee any return of principal. Any payment on the ETNs is subject to our ability to pay our obligations as they become due.
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