Published on 12/20/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.69 million capped knock-out notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Dec. 20 – Credit Suisse AG, London Branch priced $1.69 million of 0% capped knock-out notes due Jan. 4, 2018 linked to the Russell 2000 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 level by more than the knock-out buffer amount, 20%.
If a knock-out event has not occurred, the payout at maturity will be par plus the index return, subject to a minimum payout of par and a maximum return of 16.6%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Capped knock-out notes
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Underlying index: | Russell 2000
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Amount: | $1.69 million
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Maturity: | Jan. 4, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is at least 80% of initial index level, par plus index return, subject to minimum payout of par and maximum return of 16.6%; otherwise, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 1,364.189
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Final index level: Average of index’s closing levels on five trading days ending Dec. 29, 2017
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22548QQQ1
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