Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5 million capped knock-out notes linked to Wells Fargo
By Wendy Van Sickle
Columbus, Ohio, April 8 – Credit Suisse AG, London Branch priced $5 million of 0% capped knock-out notes due April 2, 2024 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final share price is less than the knock-out level, 90% of the initial share price.
If a knock-out event has not occurred, the payout at maturity will be par plus 500% of the stock return, subject to a minimum payout of par and a maximum gain of 91.25%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Capped knock-out notes
|
Underlying stock: | Wells Fargo & Co
|
Amount: | $5 million
|
Maturity: | April 2, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final share price is at least 90% of initial share price, par plus 5 times stock return, subject to minimum payout of par and maximum gain of 91.25%; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
Initial share price: | $31.07
|
Final share price: | Average of closing share prices on five consecutive valuation days ending March 28, 2024
|
Knock-out level: | $27.96, 90% of initial share price
|
Pricing date: | March 30
|
Settlement date: | April 2
|
Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 0.5%
|
Cusip: | 22551NWZ5
|
|
© 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.