Published on 5/27/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $50,000 buffered notes linked to salesforce.com
By Wendy Van Sickle
Columbus, Ohio, May 27 – Credit Suisse AG, London Branch priced $50,000 of 0% buffered notes due June 7, 2021 linked to the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above 85% of its initial value, the payout at maturity will be par of $10,000 plus 10.5%.
If the stock declines by more than 15%, investors will receive a number of shares of salesforce.com stock equal to $10,000 divided by the buffer price or, at the issuer’s option, the cash equivalent.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Buffered notes
|
Underlying shares: | salesforce.com, inc.
|
Amount: | $50,000
|
Maturity: | June 7, 2021
|
Coupon: | 0%
|
Price: | Par of $10,000
|
Payout at maturity: | If stock finishes at or above 85% of initial value, par plus 10.5%; otherwise, number of salesforce.com shares equal to $10,000 divided by buffer value or, at issuer’s option, cash equivalent
|
Initial value: | $176.93
|
Buffer value: | $150.39, 85% of initial value
|
Final value: | Average of closing share prices on five trading days ending June 2, 2021
|
Strike date: | May 20
|
Pricing date: | May 21
|
Settlement date: | May 27
|
Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 1%
|
Cusip: | 22550MFA2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.