Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $480,000 buffered accelerated return notes on S&P
By Kiku Steinfeld
Chicago, Aug. 4 – Credit Suisse AG, London Branch priced $480,000 of 0% buffered accelerated return equity securities due Aug. 4, 2021linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at par plus 11.85%.
Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% decline beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered accelerated return equity securities
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Underlying index: | S&P 500
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Amount: | $480,000
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Maturity: | Aug. 4, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, capped at par plus 11.85%; par if index declines by 10% or less; 1% loss for every 1% index declines beyond 10%
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Initial index level: | 3215.63
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Buffer level: | 2894.067, 90% of initial level
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Pricing date: | July 27
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Settlement date: | July 31
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22552WD51
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