Published on 7/19/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $374,000 knock-out notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 19 – Credit Suisse AG, London Branch priced $374,000 of 0% knock-out notes due Oct. 18, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial index level by more than 15%.
If a knock-out event has not occurred, the payout at maturity will be par plus 8.65%. If a knock-out event has occurred, investors will be exposed to losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500
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Amount: | $374,000
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Maturity: | Oct. 18, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8.65% unless final index level is less than initial index level by more than 15%, in which case investors will be exposed to losses
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Initial level: | 2,161.74
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 13, 2017
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Pricing date: | July 15
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Settlement date: | July 20
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.12%
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Cusip: | 22548QCD5
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