Published on 8/29/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.2 million capped knock-out notes tied to EM ETF
By Sarah Lizee
Olympia, Wash., Aug. 29 – Credit Suisse AG, London Branch priced $2.2 million of 0% capped knock-out notes due Sept. 11, 2019 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange.
If the ETF return is positive, the payout at maturity will be par plus the ETF gain, subject to a maximum return of 21%.
If the ETF finishes flat or falls by no more than 16.75%, the payout will be par.
If the ETF falls more than 16.75%, investors will be fully exposed to the ETF’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Capped knock-out notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $2,195,000
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Maturity: | Sept. 11, 2019
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | Par plus any ETF gain, capped at 21%; par if ETF finishes flat or falls by up to 16.75%; otherwise, full exposure to ETF’s decline
|
Initial level: | $43.37
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Knock-out buffer: | 16.75%
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Final level: | Average of ETF’s closing share prices on five trading days ending Sept. 6, 2019
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Pricing date: | Aug. 24
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Settlement date: | Aug. 29
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22551L5L0
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