Published on 5/25/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million Stars linked to VanEck Vectors Gold Miners
By Susanna Moon
Chicago, May 25 – Credit Suisse AG, London Branch priced $1 million of 0% Strategic Accelerated Redemption Securities due May 22, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 18.32% if the fund closes at or above its initial level on any annual call date.
The payout will be par unless the fund falls, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Strategic Accelerated Redemption Securities
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Underlying fund: | VanEck Vectors Gold Miners ETF
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Amount: | $1 million
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Maturity: | May 22, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par unless fund falls, in which case 1% loss for each 1% decline
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Call: | At par plus 18.32% per year if fund closes at or above initial level on May 18, 2018, May 17, 2019 or May 15, 2020
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Initial level: | $23.37
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Pricing date: | May 17
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Settlement date: | May 23
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22547V246
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