Published on 12/4/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $75,000 more absolute return barrier notes on Russell, Dow
By Susanna Moon
Chicago, Dec. 4 – Credit Suisse AG, London Branch priced another $75,000 of 0% absolute return barrier securities due Nov. 3, 2021 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer issued $1.59 million of the notes on Nov. 6, as previously announced.
If each index finishes at or above its initial level, the payout at maturity will be par plus 145% of the return of the worse performing index.
If either index falls by up to its 70% knock-in level, the payout at maturity will be par plus the absolute value of the return of the worse performing index.
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: | Absolute return barrier securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $1,666,000, up from $1,591,000
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| Maturity: | Nov. 3, 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 145% of the return of worse performing index; if either index falls by up 30%, par plus absolute return of worse performing index; otherwise, full exposure to any losses of worse performing index
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| Initial index levels: | 23,377.24 for Dow and 1,502.773 for Russell
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| Knock-in levels: | 16,364.068 for Dow, 1,051.941 for Russell, 70% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3 for original issue, Nov. 28 for $75,000 add-on
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.6%
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| Cusip: | 22550BK36
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