Published on 1/28/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $17.09 million Accelerated Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Credit Suisse AG, London Branch priced $17.09 million of 0% Accelerated Return Notes due March 27, 2020 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 23.9%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $17,090,950
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Maturity: | March 27, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 23.9%; exposure to any basket decline
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Initial index levels: | 3,126.31 for Stoxx, 6,818.95 for FTSE, 20,574.63 for Nikkei, 8,937.39 for Swiss, 5,865.692 for S&P/ASX, 27,120.98 for Hang Seng
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22548Y264
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