New Issue: Credit Suisse sells $560,000 absolute return barrier notes on biotech ETF

By Wendy Van Sickle

Columbus, Ohio, Oct. 19 – Credit Suisse AG, London Branch priced $560,000 of 0% absolute return barrier securities due Oct. 16, 2023 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above its initial value, the payout at maturity will be par plus 116.8% of the ETF return.

If the ETF falls but finishes at or above the 80% knock-in level, the payout will be par plus the absolute value of the ETF return.

Otherwise, investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Absolute return barrier securities
Underlying ETF:	SPDR S&P Biotech ETF
Amount:	$560,000
Maturity:	Oct. 16, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes flat or gains, par plus 116.8% of ETF return; if ETF falls but finishes at or above knock-in level, par plus absolute value of return; otherwise, 1% loss for each 1% decline
Initial value:	$84.41
Knock-in level:	$67.528, 80% of initial value
Pricing date:	Oct. 11
Settlement date:	Oct. 16
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.45%
Cusip:	22551LEY2

© 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.