Published on 10/5/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $928,000 knock-out notes linked to S&P 500
By Tali Rackner
Norfolk, Va., Oct. 5 – Credit Suisse AG, London Branch priced $928,000 of 0% knock-out notes due March 28, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 80.37% threshold level, the payout will be par plus any index gain, with a minimum return of 0%.
If the index falls by more than the 19.63% knock-out buffer, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500
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Amount: | $928,000
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Maturity: | March 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain unless final index level is less than initial index level by more than 19.63%, in which case full exposure to losses
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Initial index level: | 2,164.69
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Final index level: | Average of index’s closing levels on five trading days ending March 23, 2018
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 22548QJ63
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