Credit Suisse prices dual directional trigger jump notes on oil ETF

By Angela McDaniels

Tacoma, Wash., April 4 – Credit Suisse AG, London Branch plans to price 0% dual directional trigger jump securities due April 21, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.

If the ETF finishes at or above its initial share price, the payout at maturity will be par of $10 plus 43.2%.

If the final share price is less than the initial share price but the ETF finishes at or above the trigger level, 80% of the initial share price, the payout will be par plus the absolute value of the ETF return.

If the ETF finishes below the trigger level, investors will lose 1% for every 1% that the ETF declines from its initial level.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

The notes are expected to price April 15.

The Cusip number is 22550F112.

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