Published on 10/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.96 million digital barrier notes tied to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Credit Suisse AG, London Branch priced $1.96 million of 0% digital barrier notes due Nov. 14, 2019 linked to the least performing of the VanEck Vectors Gold Miners ETF, the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its 60% knock-in level every day during the life of the notes, the payout at maturity will be par plus the fixed return of 10%.
Otherwise, investors will receive the lesser of par and any losses of the worst performing asset.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital barrier notes
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Underlyings: | Euro Stoxx Banks index, iShares MSCI Emerging Markets ETF, VanEck Vectors Gold Miners ETF
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Amount: | $1,959,000
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Maturity: | Nov. 14, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlying closes at or above its knock-in level every day during life of notes, par plus 10%; otherwise, lesser of par and any losses of the worst performing asset
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Initial levels: | 104.28 for index, $40.75 for Emerging Markets, $18.39 for Gold Miners
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Knock-in levels: | 62.568 for index, $24.45 for Emerging Markets, $11.034 for Gold Miners; 60% of initial levels
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Pricing date: | Oct. 9
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Settlement date: | Oct. 12
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.558%
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Cusip: | 22551LCZ1
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