Credit Suisse plans accelerated barrier notes on SPDR S&P Oil & Gas

By Devika Patel

Knoxville, Tenn., Aug. 10 – Credit Suisse AG, London branch, plans to price 0% accelerated barrier notes due Feb. 28, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424 filing with the Securities and Exchange Commission.

If the fund’s final level is greater than or equal to the initial fund level, the payout at maturity will be par plus 125% of the index return, subject to a cap of 80 to 90%. The exact cap will be set at pricing.

If the fund finishes below the initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if the index finishes at or below its knock-in level, 65% of its initial level.

If the fund finishes below its initial level and a knock-in event occurs, investors will be fully exposed to the index’s decline.

Credit Suisse is the agent.

The notes are expected to price Aug. 21 and settle Aug. 28.

The Cusip number is 22546VJW7.

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