Published on 11/2/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million buffered accelerated return notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Nov. 2 – Credit Suisse AG, London Branch priced $2 million of 0% buffered accelerated return equity securities due Dec. 4, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index return is positive, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index, up to a cap of par plus 15%.
Investors will receive par if either index falls by 10% or less and will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered accelerated return equity securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,003,000
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Maturity: | Dec. 4, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If each index return is positive, par plus 1.5 times return of lesser-performing index, up to par plus 15% cap; par if each index declines by 10% or less; 1% loss for every 1% that lesser-performing index declines beyond 10%
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Initial levels: | 2,682.63 for S&P and 1,506.637 for Russell
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Buffer levels: | 2,414.367 for S&P, 1,355.9733 for Russell; 90% of initial levels
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Pricing date: | Oct. 30
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Settlement date: | Nov. 5
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.68%
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Cusip: | 22551LCJ7
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