By Sarah Lizee
Olympia, Wash., April 17 – Credit Suisse AG, London Branch priced $5.06 million of 0% dual directional trigger jump securities due April 21, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 with the Securities and Exchange Commission.
If the final ETF level is greater than or equal to the initial level, the payout at maturity will be par plus 43.2%.
If the ETF falls by up to the trigger level, 80% of the initial share price, the payout will be par plus the absolute value of the return.
Otherwise investors will lose 1% for every 1% that the ETF declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Dual directional trigger jump securities
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $5,060,500
|
| Maturity: | April 21, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF finishes at or above initial index level, par plus 43.2%; if ETF falls by up to 20%, par plus absolute value of return; otherwise, 1% loss for every 1% that ETF declines from initial level
|
| Initial level: | $32.08
|
| Trigger level: | $25.66, 80% of initial level
|
| Pricing date: | April 15
|
| Settlement date: | April 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 22550F112
|
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