Published on 10/10/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.57 million one-year Bares linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 10 – Credit Suisse AG, London Branch priced $1.57 million of 0% Buffered Accelerated Return Equity Securities due Oct. 4, 2018 tied 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, subject to a maximum payout of par plus 6.5%. Investors will receive par if the index falls by up to 10% and lose 1% for every 1% decline in the index beyond 10%.
Credit Suisse Securities (USA) LLC is the underwriter.
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: | $1,567,000
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Maturity: | Oct. 4, 2018
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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 the index return, subject to maximum payout of par plus 6.5%; par if index falls by up to 10%; 1% loss for every 1% decline in the index beyond 10%
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Initial index level: | 2,510.06
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Buffer level: | 2,259.054
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Underwriters: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22550BJE4
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