Published on 3/20/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.19 million digital barrier notes on three funds
By Susanna Moon
Chicago, March 20 – Credit Suisse AG, London branch priced $1.19 million of 0% digital barrier notes due March 8, 2019 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, the VanEck Vectors Gold Miners ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying fund finishes at or above its 60% knock-in level, the payout at maturity will be par plus the digital return of 10%.
Otherwise, investors will be fully exposed to the decline of the worse performing component.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Digital barrier notes
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| Underlying funds: | SPDR S&P Oil & Gas Exploration & Production ETF, the VanEck Vectors Gold Miners ETF and the SPDR S&P Biotech ETF
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| Amount: | $1,189,000
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| Maturity: | March 8, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each fund gains or falls by up to 40%, par plus 10%; otherwise, 1% loss per 1% decline of worse performing fund
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| Initial levels: | $34.14 for oil fund, $21.49 for gold fund and $91.96 for biotech fund
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| Knock-in levels: | $20.484 for oil fund, $12.894 for gold fund and $55.176 for biotech fund; 60% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 7
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.725%
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| Cusip: | 22550WF77
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