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Credit Suisse plans autocallable securities linked to oil & gas ETF
By Devika Patel
Knoxville, Tenn., June 16 – Credit Suisse AG, London branch plans to price autocallable securities due June 28, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium expected to be 13.75% if the price of the ETF is at or above its initial level on June 19, 2018, June 19, 2019 or June 19, 2020.
If the notes are not called, the payout at maturity will be par plus 55% unless the ETF closes below 70% of its initial price, in which case investors will lose 1% for each 1% decline.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22550BAZ6) are expected to price June 19 and settle June 26.
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