Published on 7/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 accelerated barrier notes on gold, oil & gas ETFs
By Marisa Wong
Morgantown, W.Va., July 30 – Credit Suisse AG, London Branch priced $500,000 of 0% accelerated barrier notes due Jan. 29, 2020 linked to the lowest performing of the VanEck Vectors Gold Miners exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 180% of the return of the lesser performing ETF.
If either ETF falls but neither finishes below its 70% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the lesser performing ETF.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $500,000
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Maturity: | Jan. 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser performing ETF finishes at or above its initial price, par plus 180% of that ETF’s return; if lesser performing ETF falls by up to 30%, par; otherwise, full exposure to decline of lesser performing ETF
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Initial prices: | $21.80 for gold ETF, $42.99 for oil ETF
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Knock-in prices: | $15.26 of gold ETF, $30.093 for oil ETF; 70% of initial prices
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Pricing date: | July 25
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Settlement date: | July 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22550WZB6
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