Published on 7/1/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $32.19 million Accelerated Return Notes linked to airline stocks
By Angela McDaniels
Tacoma, Wash., July 1 – Credit Suisse AG, London Branch priced $32.19 million of 0% Accelerated Return Notes due Aug. 26, 2016 linked to a basket of three airline sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of the common stocks of United Continental Holdings, Inc. with a 33.34% weight, JetBlue Airways Corp. with a 33.33% weight and Southwest Airlines Co. with a 33.33% weight.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 24%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying stocks: | United Continental Holdings, Inc. (33.33% weight), JetBlue Airways Corp. (33.33% weight) and Southwest Airlines Co. (33.34% weight)
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Amount: | $32,185,770
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Maturity: | Aug. 26, 2016
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 300% of any basket gain, up to 24% maximum return; full exposure to any basket decline
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Initial share prices: | $21.165 for JetBlue, $34.49 for Southwest and $54.94 for United Continental
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Pricing date: | June 25
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Settlement date: | July 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22548D617
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