Published on 5/8/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $10.23 million digital barrier notes linked to gold miners ETF
By Angela McDaniels
Tacoma, Wash., May 8 – Credit Suisse AG, London Branch priced $10.23 million of 0% digital barrier notes due June 7, 2018 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if the ETF closes at or below its knock-in level, 65% of its initial share price, on any trading day during the life of the notes.
If a knock-in event does not occur, the payout at maturity will be par plus 13.75%.
If a knock-in event does occur, the payout will be par plus the lesser of the index return and zero.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
|
| Underlying ETF: | VanEck Vectors Gold Miners
|
| Amount: | $10,226,000
|
| Maturity: | June 7, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF’s closing share price remains above knock-in level throughout life of notes, par plus 13.75%; otherwise, par plus ETF return, subject to maximum payout of par
|
| Initial share price: | $21.10
|
| Knock-in level: | $13.715, 65% of initial share price
|
| Pricing date: | May 4
|
| Settlement date: | May 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.43%
|
| Cusip: | 22550B3N1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
