Published on 9/29/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.11 million contingent coupon autocallables linked to biotech ETF
By Angela McDaniels
Tacoma, Wash., Sept. 29 – Credit Suisse AG, London Branch priced $1.11 million of contingent coupon autocallable yield notes due Sept. 28, 2018 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year unless the ETF closes below its barrier level, 70% of its initial share price, on the observation date for that month.
The notes will be automatically called at par if the ETF closes at or above its initial share price on March 26, 2018 or June 26, 2018.
The payout at maturity will be par unless the ETF closes below its barrier level during the life of the notes, in which case investors receive par plus the ETF return, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $1,111,000
|
| Maturity: | Sept. 28, 2018
|
| Coupon: | 8% per year, payable monthly if ETF closes at or above barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF closes below barrier level during life of notes, in which case par plus ETF return, subject to maximum payout of par
|
| Call: | Automatically at par if ETF closes at or above initial share price on March 26, 2018 or June 26, 2018
|
| Initial share price: | $83.25
|
| Barrier levels: | $58.275, 70% of initial share price
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.35%
|
| Cusip: | 22550BGV9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
