By Angela McDaniels
Tacoma, Wash., Aug. 25 – Credit Suisse AG, London Branch priced $1.81 million of 0% accelerated barrier notes due Feb. 28, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 125% of the ETF return, subject to a 91% maximum return.
If the ETF finishes below its initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if the ETF finishes at or below the knock-in level, 65% of the initial share price.
If the ETF finishes below the initial share price and a knock-in event occurs, investors will be fully exposed to the ETF decline.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Accelerated barrier notes
|
Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $1,805,000
|
Maturity: | Feb. 28, 2019
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If ETF finishes at or above initial level, par plus 125% of ETF return, up to 91% maximum return; if ETF finishes below initial level and knock-in event does not occur, par; if knock-in event occurs, full exposure to decline of ETF
|
Knock-in event: | ETF finishes at or below knock-in level
|
Initial share price: | $35.38
|
Knock-in level: | $22.997, 65% of initial level
|
Pricing date: | Aug. 21
|
Settlement date: | Aug. 28
|
Underwriter: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.9%
|
Cusip: | 22546VJW7
|
© 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.