Published on 3/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $591,000 accelerated barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 31 – Credit Suisse AG, London Branch priced $591,000 of 0% accelerated barrier notes due April 1, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 155% of the gain of the worse performing index.
If each index finishes at or above the 50% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $591,000
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Maturity: | April 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 155% of return of worse performing index; if each index falls by up to knock-in level, par; otherwise, full exposure to losses of the worse performing index
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Initial index levels: | 2,037.05 for S&P 500 and 1,080.231 for Russell 2000
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Knock-in levels: | 1,018.525 for S&P, 540.1155 for Russell; 50% of initial levels
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 4.6%
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Cusip: | 22546VXN1
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