Published on 6/14/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 autocallable securities on oil ETF, S&P
By Marisa Wong
Morgantown, W.Va., June 14 – Credit Suisse AG, London Branch priced $500,000 of 0% autocallable securities due May 31, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 9% if each underlying asset closes at or above its initial level on any annual review date.
If the notes are not called and each underlying asset finishes at or above its knock-in level, 60% of the initial level, the payout at maturity will be par plus the contingent return of 27%. Otherwise, investors will lose 1% for each 1% decline of the least-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Autocallable securities
|
Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF, S&P 500 index
|
Amount: | $500,000
|
Maturity: | May 31, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 27% if each underlying asset finishes at or above its knock-in level; otherwise, 1% loss for each 1% decline of the least-performing asset
|
Call: | Automatically at par plus annualized redemption premium of 9% if each asset closes at or above its initial level on any annual review date
|
Initial levels: | $27.12 for ETF, 2,826.06 for index
|
Knock-in levels: | $16.272 for ETF, 1,695.636 for index; 60% of initial levels
|
Pricing date: | May 24
|
Settlement date: | May 31
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2%
|
Cusip: | 22552FFZ0
|
|
© 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.