Published on 11/13/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $12.03 million digital barrier notes on Gold Miners
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – Credit Suisse AG, London Branch priced $12.03 million of 0% digital barrier notes due Dec. 10, 2020 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 or has never closed below its 67.5% knock-in level any day during the life of the notes, the payout at maturity will be par plus the fixed return of 10.1%.
Otherwise, investors will have full exposure to any loss or will receive par if the final level of the ETF is equal to or greater than its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $12,033,000
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| Maturity: | Dec. 10, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above its initial level or never closes below 67.5% knock-in level, par plus the fixed return of 10.1%; otherwise, full exposure to any loss or par if ETF gains or finishes flat
|
| Initial level: | $26.49
|
| Knock-in level: | $17.88075; 67.5% of initial level
|
| Pricing date: | Nov. 7
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| Settlement date: | Nov. 13
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.65% Cusip: | 22549J2Y5
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