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Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, London Branch > News item |
Credit Suisse plans digital barrier notes linked to oil services ETF
By Angela McDaniels
Tacoma, Wash., July 10 – Credit Suisse AG, London Branch plans to price 0% 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.
A knock-in event will occur if the ETF closes at or below the knock-in level, 65% of the initial share price, on any day during the life of the notes.
If a knock-in event has not occurred, the payout at maturity will be par plus the fixed payment percentage, which is expected to be 9.8% and will be set at pricing. If a knock-in event has occurred, the payout will be par plus the lesser of zero and the index return.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price July 14.
The Cusip number is 22550BCV3.
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