Published on 5/7/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $150,000 dual directional capped knock-out notes on S&P
By Sarah Lizee
Olympia, Wash., May 7 – Credit Suisse AG, London Branch, priced $150,000 of 0% dual directional capped knock-out notes due May 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the gain, up to a maximum payout of 20%.
If the index falls but finishes at or above the 73% knock-out level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Dual directional capped knock-out notes
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Underlying index: | S&P 500
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Amount: | $150,000
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Maturity: | May 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus index return, capped at 20%; if index declines by 27% or less, par plus absolute value of return; otherwise, full exposure to any losses
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Initial level: | 2939.51
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Knock-out level: | 2145.84, 73% of initial level
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 22552W2S3
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