Published on 12/20/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $220,000 knock-out notes linked to oil & gas ETF
By Angela McDaniels
Tacoma, Wash., Dec. 20 – Credit Suisse AG, London Branch priced $220,000 of 0% knock-out notes due Jan. 4, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final share price is less than the initial share price by more than 20%.
If a knock-out event has not occurred, the payout at maturity will be par plus 13.8%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $220,000
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Maturity: | Jan. 4, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final share price is at least 80% of initial share price, par plus 13.8%; otherwise, 1% loss for every 1% that ETF declines from initial share price
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Initial share price: | $42.01
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Final share price: | Average of ETF’s closing share prices on five trading days ending Dec. 29, 2017
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22548QQR9
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