By Angela McDaniels
Tacoma, Wash., Jan. 22 – Credit Suisse AG, London Branch priced $2.3 million of 0% accelerated barrier notes due May 25, 2017 linked to the United States Oil Fund, LP and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price of the least-performing ETF is greater than or equal to its initial share price, the payout at maturity will be par plus 150% of the return of that ETF.
If the least-performing ETF finishes below its initial share price and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either ETF finishes at or below its knock-in share price, 60% of its initial share price.
If the least-performing ETF finishes below its initial share price and a knock-in event occurs, investors will be fully exposed to the decline of the least-performing ETF.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated barrier notes
|
| Underlying ETF: | United States Oil Fund, LP and Energy Select Sector SPDR Fund
|
| Amount: | $2,299,000
|
| Maturity: | May 25, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing ETF finishes at or above initial share price, par plus 150% of return of that ETF; if least-performing ETF finishes below initial share price and knock-in event does not occur, par; if least-performing ETF finishes below initial share price and knock-in event occurs, full exposure to decline of least-performing ETF
|
| Knock-in event: | Either ETF finishes at or below its knock-in share price
|
| Initial share prices: | $17.48 for oil fund and $75.32 for energy fund
|
| Knock-in share prices: | $10.488 for oil fund and $45.192 for energy fund; 60% of initial share prices
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 23
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.8%
|
| Cusip: | 22546V2A3
|
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