Published on 11/20/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $850,000 ARES on VanEck Vectors Oil Services ETF
By Marisa Wong
Morgantown, W.Va., Nov. 20 – Credit Suisse AG, London Branch priced $850,000 of 0% Accelerated Return Equity Securities due Dec. 19, 2018 tied to the VanEck Vectors Oil Services exchange-traded fund, 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 200% of the fund return, capped at 27%. Investors will be fully exposed to any fund decline.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Equity Securities
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Underlying ETF: | VanEck Vectors Oil Services ETF
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Amount: | $850,000
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Maturity: | Dec. 19, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 200% of the fund return, capped at 27%; full exposure to losses
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Initial fund level: | $24.32
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Pricing date: | Nov. 14
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Settlement date: | Nov. 17
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22550BPV9
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