Published on 4/15/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 accelerated return securities linked to gold ETFs
By Angela McDaniels
Tacoma, Wash., April 15 – Credit Suisse AG, London Branch priced $500,000 of 0% accelerated return securities due April 17, 2020 linked to an equally weighted basket consisting of the SPDR Gold Trust and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return of 66%. If the final basket level is less than the initial basket level but greater than or equal to the trigger level, 70% of the initial level, the payout will be par. If the final basket level is less than the trigger level, investors will lose 1% for every 1% that the final basket level is less than the initial basket level.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated return securities
|
| Underlying ETFs: SPDR Gold Trust and Market Vectors Gold Miners ETF
|
| Amount: | $500,000
|
| Maturity: | April 17, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 150% of basket return, subject to 66% maximum return; if final basket level is less than initial basket level but greater than or equal to trigger level, 70% of initial level, par; if final basket level is less than trigger level, 1% loss for every 1% that final basket level is less than initial basket level
|
| Initial share prices: | $115.96 for SPDR Gold Trust and $19.45 for Market Vectors Gold Miners
|
| Pricing date: | April 10
|
| Settlement date: | April 15
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.55%
|
| Cusip: | 22546VBE5
|
© 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.
