Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.61 million autocallable securities on biotech ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – Credit Suisse AG, London Branch, priced $1.61 million of 0% autocallable securities due Dec. 29, 2020 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 12% a year if the fund closes at or above its initial level on either of two annual observation dates.
If the return of the fund is at least equal to its initial level, the payout at maturity will be par plus 36%. Investors will be exposed to any decline of the fund.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying ETF: | SPDR S&P Biotech ETF
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Amount: | $1,605,000
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Maturity: | Dec. 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of fund is at least equal to initial level, par plus 36%, investors will be exposed to any decline in fund
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Call: | At par plus 12% per year if fund closes at or above initial level either of two annual observation dates
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Initial price: | $85.88
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Pricing date: | Dec. 27
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Settlement date: | Dec. 29
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Agents: | Credit Suisse Securities (USA) LLC
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Fees: | 3.2%
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Cusip: | 22550BTF0
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