Published on 7/20/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.01 million digital barrier notes on VanEck Oil Services ETF
New York, July 20 – Credit Suisse AG, London Branch priced $1.01 million of digital barrier notes due July 26, 2018 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF never closes below its 65% knock-in level during the life of the notes, the payout at maturity will be par plus a fixed payment of 9.8%.
Otherwise, investors will receive no more than par and will be fully exposed to any decline in the ETF.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Digital barrier notes
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| Underlying assets: | VanEck Vectors Oil Services exchange-traded fund
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| Amount: | $1,008,000
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| Maturity: | July 26, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF never closes below knock-in level during life of notes, par plus 9.8%; otherwise, no more than par and full exposure to any decline in the ETF
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| Initial level: | $25.42
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| Knock-in level: | $16.523, 65% of initial level
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.4%
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| Cusip: | 22550BCV3
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