By Marisa Wong
Morgantown, W.Va., Aug. 23 – Credit Suisse AG, London Branch priced $1.25 million of 0% absolute return barrier securities due Aug. 16, 2021 linked to the SPDR S&P Metals & Mining exchange-traded fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 184% of the return of the lower-performing ETF.
If the lower-performing ETF finishes below its initial level and but above its 70% knock-in level, the payout will be par plus the absolute value of the return of the lower-performing ETF.
Otherwise, investors will be fully exposed to the decline of the lower-performing ETF.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying ETFs: | SPDR S&P Metals & Mining ETF and VanEck Vectors Gold Miners ETF
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Amount: | $1.25 million
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Maturity: | Aug. 16, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each ETF finishes at or above its initial level, par plus 184% of the return of the lower-performing ETF; if lower-performing ETF finishes below its initial level and but above knock-in level, par plus the absolute value of the return of the lower-performing ETF; otherwise, investors will be fully exposed to the decline of the lower-performing ETF
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Initial prices: | $30.09 for SPDR, $23.15 for VanEck Vectors
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Knock-in levels: | $21.063 for SPDR, $16.205 for VanEck Vectors; 70% of initial prices
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 22550BF65
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