Published on 5/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $613,000 digital barrier notes on three funds
By Wendy Van Sickle
Columbus, Ohio, May 17 – Credit Suisse AG, London branch priced $613,000 of 0% digital barrier notes due May 23, 2019 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, the VanEck Vectors Gold Miners ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying fund finishes at or above its 60% knock-in level, the payout at maturity will be par plus the digital return of 11.25%.
Otherwise, investors will be fully exposed to the decline of the worse performing component.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
|
| Issue: | Digital barrier notes
|
| Underlying funds: | SPDR S&P Oil & Gas Exploration & Production ETF, VanEck Vectors Gold Miners ETF and SPDR S&P Biotech ETF
|
| Amount: | $613,000
|
| Maturity: | May 23, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each fund gains or falls by up to 40%, par plus 11.25%; otherwise, 1% loss per 1% decline of worse performing fund
|
| Initial levels: | $4.79 for oil fund, $22.78 for gold fund and $92.82 for biotech fund
|
| Knock-in levels: | $25.074 for oil fund, $13.668 for gold fund and $55.692 for biotech fund; 60% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
|
| Cusip: | 22550WTP2
|
|
|
© 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.
