Published on 9/28/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $281,000 absolute return buffered notes on tech stocks
By Kiku Steinfeld
Chicago, Sept. 28 – Credit Suisse AG, London Branch priced $281,000 of 0% absolute return buffered securities due Sept. 23, 2024 linked to the worse performing of the common stocks of Apple Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its initial level, the payout at maturity will be par plus 200% of the return of the lesser performing underlying.
If the lesser performing underlying falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing underlying.
If the lesser performing underlying falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing underlying beyond 20%.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Absolute return buffered securities
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| Underlyings: | Apple Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc.
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| Amount: | $281,000
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| Maturity: | Sept. 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlying finishes at or above its initial level, par plus 200% of the return of the lesser performing underlying; if the lesser performing underlying falls by up to 20%, par plus the absolute value of the return of the lesser performing underlying; otherwise, 1% loss for every 1% decline of the lesser performing underlying beyond 20%
|
| Initial levels: | $106.84 for Apple, $2,954.91 for Amazon.com, $1,459.99 for Alphabet, $469.96 for Netflix
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| Buffer levels: | $85.472 for Apple, $2,363.928 for Amazon.com, $1,167.992 for Alphabet, $375.968 for Netflix, 80% of initial levels
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 23
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| Placement agent: | Incapital LLC
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| Fees: | 3.5%
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| Cusip: | 22552WHU2
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