Published on 9/10/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.96 million accelerated barrier notes on gold, silver ETFs
By Sarah Lizee
Olympia, Wash., Sept. 10 – Credit Suisse AG, London Branch priced $2.96 million of 0% accelerated barrier notes due Sept. 8, 2023 linked to the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 130% of the return of the worse-performing ETF.
If the worse-performing ETF falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worse-performing ETF.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
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Amount: | $2,961,000
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Maturity: | Sept. 8, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any gain of worse-performing ETF; if worse-performing ETF falls by up to 40%, par; otherwise, full exposure to worse-performing ETF’s decline
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Initial levels: | $40.86 for gold ETF, $25.06 for silver ETF
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Knock-in levels: | $24.516 for gold ETF, $15.036 for silver ETF, 60% of initial level
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Pricing date: | Sept. 4
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Settlement date: | Sept. 10
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1%
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Cusip: | 22552WHV0
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