Published on 9/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.21 million trigger PLUS linked to real estate ETF
By Angela McDaniels
Tacoma, Wash., Sept. 5 – Credit Suisse AG, London Branch priced $5.21 million of 0% trigger Performance Leveraged Upside Securities due Sept. 3, 2020 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 200% of the ETF return, subject to a 90% maximum return. Investors will receive par if the ETF declines by 25% or less and will be fully exposed to the ETF’s decline from its initial share price if it falls by more than 25%.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying ETF: | iShares U.S. Real Estate ETF
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Amount: | $5,211,680
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Maturity: | Sept. 3, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, up to 90% maximum return; if ETF return is negative but final share price is greater than or equal to trigger price, par; otherwise, full exposure to ETF’s decline
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Initial share price: | $81.20
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Trigger price: | $60.90, 75% of the initial price
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Agent: | Credit Suisse Securities (USA) LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 22549C790
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