Published on 11/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.5 million three-year trigger in-step notes tied to S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – Credit Suisse AG, London Branch priced $2.5 million of 0% capped trigger in-step securities due Nov. 5, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the underlying index finishes at or above its 80% downside threshold, the payout at maturity will be par of $10 plus the greater of the 15% step return and any gain.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Credit Suisse Securities (USA) LLC are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger in-step securities
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Underlying index: | S&P 500 index
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Amount: | $2.5 million
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Maturity: | Nov. 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 80% downside threshold, par plus greater of 15% and the index return; otherwise, 1% loss per 1% decline
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Initial index level: | 2,658.69
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Downside threshold: | 2,126.95, 80% of initial level
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Pricing date: | Oct. 29
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Settlement date: | Nov. 5
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Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
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Fees: | 0.75%
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Cusip: | 22549R714
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