Published on 10/16/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $499,000 8.75% autocallable yield notes on Gold Miners ETF
By Marisa Wong
Madison, Wis., Aug. 13 – Credit Suisse AG, London Branch priced $499,000 of 8.75% autocallable yield notes due Oct. 19, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will called at par plus accrued interest if the fund closes at or above its initial level on Jan. 14, April 14 or July 14, 2015.
The payout at maturity will be par unless the fund ever closes below the 75% barrier level during life of the notes and finishes below the initial level, in which case the payout will be par plus the return with full exposure to any losses.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Autocallable yield notes
|
Underlying fund: | Market Vectors Gold Miners ETF
|
Amount: | $499,000
|
Maturity: | Oct. 19, 2015
|
Coupon: | 8.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | If fund ever falls by more than 25% during life of the notes and finishes below the initial level, par plus return with exposure to any losses; otherwise, par
|
Call: | At par plus accrued interest if the fund closes at or above its initial level on Jan. 14, April 14 or July 14, 2015
|
Initial level: | $21.37
|
Knock-in level: | $16.028, 75% of initial level
|
Pricing date: | Oct. 14
|
Settlement date: | Oct. 17
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.1%
|
Cusip: | 22547QUJ3
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.