UBS to Restart Buybacks After Progress on Credit Suisse Integration -- 2nd Update [MarketWatch]
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI)
US:NASDAQ Investor Relations:
credit-suisse.com/articles/media-releases/2017/04/en/usoi-launch-pr.html
Company Research
Source: MarketWatch
as integration-related costs dragged the Swiss bank into its second quarterly net loss in a row. The company said Tuesday that it plans to reinstate buybacks, distributing up to $1 billion to shareholders in the second half. The repurchase will start after the legal merger of subsidiaries UBS AG and Credit Suisse AG by the second quarter of the year, with the aim of surpassing pre-takeover levels by 2026. Advertisement Zurich-based UBS last year paused a $5 billion buyback after the Credit Suisse deal. Along with the share buyback, the Swiss bank increased its 2026 cost-saving goal to $13 billion, previously guided at more than $10 billion by end of 2026. The bank said it had completed the first phase of the strategic integration of its once-rival Credit Suisse, during which it stabilized the franchise, achieved underlying profitability and launched a restructuring. Advertisement "As we move to the next phase of our journey, we will focus on restructuring and optimizing
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News
- SLVO: If You Are Looking For A Rally In Silver, SLVO Is Not The Answer [Seeking Alpha]Seeking Alpha
- Credit Suisse Announces Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the "ETNs")PR Newswire
- UBS Group (UBS) Announces a New Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- Swiss banking giant UBS to launch share buyback of up to $2 billion [MSNBC.com]MSNBC.com
- UBS announces a new share repurchase program of up to $2B [Seeking Alpha]Seeking Alpha
USOI
Sec Filings
- 4/23/24 - Form 6-K
- 4/19/24 - Form 424B2
- 4/5/24 - Form 6-K
- USOI's page on the SEC website