Credit Suisse to UBS

Credit Suisse is suspended and we were supposed to get UBS shares with conversation ratio of 22.48. Why is the shares not credited. Anyone received their shares?

Keep an eye on this thread:

CS shares were still trading today.

Not correct. It was suspended. I couldn’t place the sell order.

CS shares were still trading. They’re listed on multiple exchanges.

Here’s an extract from Reuters:

Hey, @jpnaik :wave:

The NYSE listing of Credit Suisse has been acquired, and we will reflect the event accordingly once all the details around it are finalised.

When it comes to the SIX Swiss listing - it is yet to be acquired. Still, all proceeds from the two acquisitions/mergers will be allocated to each eligible account once the events are finalised :raised_hands:

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Thank you for your help @Dougal1984 and @Momchil.G .
It looks like it may take few days to sort out.
Well, as long as this will be sorted out.

Thank you @Momchil.G for the update. Now I receive the UBS shares but the cost price is ÂŁ0. How do I correct the cost value?

The average price is ÂŁ0 because the shares were distributed as a result of a corporate action and not purchased. So, no correction is necessary in this case :white_check_mark:

But there was a cost to buy Credit Suisse so there was always a cost. In my case this is in ISA, so its not going to be big difference, however if someone have this in invest account. this will cause wrong calculation of capital gains tax.

Is there a way to correct it?

The chronological development of your position is still there. It’s visible in the History section of your account and will be reflected on the tax statement’s closed positions attachment should you decide to close your new position.

I don’t think that is correct either as the history sanction totally empty for UBS shares. Am I missing something here?

When I click on history sanction this is what I get.

Please allow people to correct the cost value to make this right.

Otherwise someday some customer might end up in tax compliance issue.

Regards

Jay

The History tab for UBS is blank since the shares were distributed as a result of the corporate event and weren’t purchased by you. Still, the information for your previous position with Credit Suisse is available in the History of your account and can be used to calculate your current profit or loss.

I will be more than happy to check both the current and the closed position in detail and provide you with the formula as well as a calculation via DM. While I understand how this may be inconvenient, the price of the position in the app itself can’t be corrected.