Published on 3/25/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.55 million PLUS on VanEck Vectors Oil Services ETF
By Wendy Van Sickle
Columbus, Ohio, March 25 – Credit Suisse AG, London Branch priced $1.55 million of 0% Performance Leveraged Upside Securities due June 17, 2021 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 300% of the fund return, up to $14.65 per $10 PLUS. Investors will be fully exposed to any losses of the fund.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Performance Leveraged Upside Securities
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| Underlying fund: VanEck Vectors Oil Services ETF
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| Amount: | $1,548,100
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| Maturity: | June 17, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If fund return is positive, par plus 300% of fund return up to $14.65 per $10 PLUS; 1% loss for every 1% decline from initial level
|
| Initial level: | $4.46
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| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Agent: | Credit Suisse Securities (USA) LLC
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| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 22550V398
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