Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.74 million knock-out notes due 2019 on S&P 500
By Susanna Moon
Chicago, June 6 – Credit Suisse AG, London Branch priced $1.74 million of 0% knock-out notes due Aug. 28, 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 its initial level, the payout at maturity will be $1,081.50 per $1,000 principal amount.
If the index falls by up to its 85% knock-out level, the payout will be par.
If the index falls by more than the 15%, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the 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: | $1,735,000
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Maturity: | Aug. 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 8.15%; if index falls by up to 15%, par; otherwise, 1% loss for each 1% index decline
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Initial level: | 2,721.33
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Knock-out level: | 2,313.13, 85% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.12%
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Cusip: | 22550WVA2
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