Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Market Vectors Gold Miners exchange-traded fund > News item |
Credit Suisse plans high/low coupon notes on oil, gold miners funds
By Susanna Moon
Chicago, Nov. 21 - Credit Suisse AG plans to price 12-month high/low coupon callable yield notes linked to the U.S. Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying fund ever closes at or below its 60% knock-in level during any observation period.
The coupon will be 9% to 10% per year unless a knock-in event occurs, in which case the coupon will be 1% for that and each subsequent interest period. Interest will be payable quarterly. The exact coupon will be set at pricing.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lower performing fund, up to a maximum payout of par.
The notes are callable at par on any interest payment date beginning March 26, 2014.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Dec. 20 and settle on Dec. 26.
The Cusip number is 22547QDT0.
© 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.