Published on 7/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.02 million knock-out notes 2020 tied to S&P 500
By Sarah Lizee
Olympia, Wash., July 17 – Credit Suisse AG, London Branch priced $2.02 million of 0% knock-out notes due Jan. 15, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
A knock-out event will occur if the index finishes below its initial level by more than the knock-out buffer amount of 18%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of zero and any gain in the index.
If a knock-out event has occurred, investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement 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: | $2,015,000
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Maturity: | Jan. 15, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If a knock-out event has not occurred, par plus the greater of zero and any gain in the index; if a knock-out event has occurred, 1% loss for each 1% decline
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Initial level: | 2,801.31
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Knock-out level: | 2,297.07, 82% of initial level
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Pricing date: | July 13
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Settlement date: | July 18
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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: | 22550BUX9
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