By Marisa Wong
Morgantown, W.Va., Aug. 23 – Credit Suisse AG, London Branch priced $1.25 million of 0% absolute return barrier securities due Aug. 16, 2021 linked to the SPDR S&P Metals & Mining exchange-traded fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 184% of the return of the lower-performing ETF.
If the lower-performing ETF finishes below its initial level and but above its 70% knock-in level, the payout will be par plus the absolute value of the return of the lower-performing ETF.
Otherwise, investors will be fully exposed to the decline of the lower-performing ETF.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying ETFs: | SPDR S&P Metals & Mining ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $1.25 million
|
| Maturity: | Aug. 16, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above its initial level, par plus 184% of the return of the lower-performing ETF; if lower-performing ETF finishes below its initial level and but above knock-in level, par plus the absolute value of the return of the lower-performing ETF; otherwise, investors will be fully exposed to the decline of the lower-performing ETF
|
| Initial prices: | $30.09 for SPDR, $23.15 for VanEck Vectors
|
| Knock-in levels: | $21.063 for SPDR, $16.205 for VanEck Vectors; 70% of initial prices
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 22550BF65
|
|
|
© 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.
