Published on 2/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 accelerated barrier notes on VanEck Vectors Gold
By Sarah Lizee
Olympia, Wash., Feb. 19 – Credit Suisse AG, London Branch priced $500,000 of 0% accelerated barrier notes due May 18, 2021 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above its initial level, the payout at maturity will be par plus 125% of the ETF return, subject to a maximum payout of par plus 21%.
If the ETF falls by up to 20%, the payout will be par.
Otherwise, investors will be fully exposed to the ETF decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $500,000
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| Maturity: | May 18, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the ETF finishes at or above its initial level, par plus 125% of the ETF return, subject to maximum payout of par plus 21%; if the ETF falls by up to knock-in level, par; otherwise, investors will be fully exposed to the ETF decline
|
| Initial price: | $28.32
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| Knock-in level: | $22.656, 80% of initial price
|
| Pricing date: | Feb. 13
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| Settlement date: | Feb. 19
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
|
| Cusip: | 22551NPR1
|
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