By Marisa Wong
Madison, Wis., Feb. 10 – Credit Suisse AG, London Branch priced $1.5 million of 0% accelerated barrier notes due Feb. 9, 2018 linked to the United States Oil Fund, LP and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price of the least-performing ETF is greater than or equal to its initial share price, the payout at maturity will be par plus 150% of the return of that ETF.
If the least-performing ETF finishes below its initial share price and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either ETF finishes at or below its knock-in share price, 60% of its initial share price.
If the least-performing ETF finishes below its initial share price and a knock-in event occurs, investors will be fully exposed to the decline of the least-performing ETF.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying ETF: | United States Oil Fund, LP and Energy Select Sector SPDR fund
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Amount: | $1.5 million
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Maturity: | Feb. 9, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least-performing ETF finishes at or above initial share price, par plus 150% of return of that ETF; if least-performing ETF finishes below initial share price and knock-in event does not occur, par; if least-performing ETF finishes below initial share price and knock-in event occurs, full exposure to decline of least-performing ETF
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Knock-in event: | Either ETF finishes at or below its knock-in share price
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Initial share prices: | $19.47 for oil fund and $79.82 for energy fund
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Knock-in share prices: | $11.682 for oil fund and $47.892 for energy fund; 60% of initial share prices
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Pricing date: | Feb. 6
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Settlement date: | Feb. 10
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 2.925%
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Cusip: | 22546V4V5
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