Published on 7/8/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $381,000 of digital plus barrier notes on UnitedHealth
By Sarah Lizee
Olympia, Wash., July 8 – Credit Suisse AG, London Branch priced $381,000 of 0% digital plus barrier notes due Jan. 3, 2022 linked to the common stock of UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its initial level, the payout at maturity will be par plus the greater of the stock return and 8%.
If the stock falls but finishes at or above its 75% knock-in level, the payout will be par.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital plus barrier notes
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Underlying stock: | UnitedHealth Group Inc.
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Amount: | $381,000
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Maturity: | Jan. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock finishes flat or gains, par plus greater of return and 8%; if stock falls by up to 25%, par; otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
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Initial level: | $289.76
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Knock-in level: | $217.32, 75% of initial level
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Pricing date: | June 29
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Settlement date: | July 2
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22552WA62
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