Published on 1/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.84 million digital buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 10 – Credit Suisse AG, London Branch priced $8.84 million of 0% digital buffered notes due May 9, 2019 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 the 90% buffer level, the payout at maturity will be par plus the fixed payment of 8%.
Otherwise, investors will lose 1.111111% for each 1% decline beyond the 10% buffer.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital buffered notes
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Underlying index: | S&P 500 index
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Amount: | $8,838,000
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Maturity: | May 9, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains, finishes flat or falls by up to 10%, par plus 8%; otherwise, 1.111111% loss for each 1% decline beyond the 10% buffer
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Initial index level: | 2,743.15
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Pricing date: | Jan. 5
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Settlement date: | Jan. 12
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22550W4T1
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