Published on 3/16/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.22 million knock-out notes tied to Russell 2000
By Susanna Moon
Chicago, March 16 – Credit Suisse AG, London Branch priced $4.22 million of 0% knock-out notes due June 13, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% threshold level, the payout at maturity will be $1,102.50 per $1,000 principal amount.
If the index falls by more than the 15% knock-out buffer, investors will be fully exposed to any 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: | Russell 2000
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Amount: | $4,222,000
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Maturity: | June 13, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 85% knock-out level, par plus 10.25%; otherwise, 1% loss for each 1% decline
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Initial index level: | 1,365.265
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Knock-out buffer: 15%
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Pricing date: | March 10
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Settlement date: | March 15
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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: | 22548QXE0
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