Published on 9/9/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.65 million knock-out notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – Credit Suisse AG, London Branch priced $1.65 million of 0% knock-out notes due Sept. 16, 2020 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 knock-in level, 85% of its initial level, the payout will be par plus 8.1%.
Otherwise, investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Knock-out notes
|
Underlying index: | S&P 500 index
|
Amount: | $1,645,000
|
Maturity: | Sept. 16, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes at or above knock-out level, par plus 8.1%; otherwise, 1% loss for each 1% index decline
|
Initial level: | 2,926.46
|
Knock-out level: | 2,487.49, 85% of initial level
|
Final level: | Average of index closing levels on each of five trading days ending Sept. 11, 2020
|
Pricing date: | Aug. 30
|
Settlement date: | Sept. 5
|
Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 1%
|
Cusip: | 22552FUK6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.