Published on 7/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $684,000 absolute return barrier notes on S&P 500
By Marisa Wong
Morgantown, W.Va., July 6 – Credit Suisse AG, London Branch priced $684,000 of 0% absolute return barrier securities due June 29, 2021 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 initial level, the payout at maturity will be par plus 125% of the index return, capped at par plus 30%.
If the index falls but finishes at or above the 80% knock-in level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying index: | S&P 500
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Amount: | $684,000
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Maturity: | June 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes flat or gains, par plus 1.25 times return, capped at par plus 30%; if index falls but finishes at or above knock-in level, par plus absolute value of return; otherwise, 1% loss for each 1% decline
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Initial index level: | 2,754.88
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Knock-in level: | 2,203.904, 80% of initial level
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.9%
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Cusip: | 22550WVW4
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