Published on 2/7/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.8 million absolute return buffered securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Credit Suisse AG, London Branch priced $1.8 million of 0% absolute return buffered securities due Aug. 4, 2021 linked to the lowest performing of 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 125% of the gain of the worse performing index, up to an 18% maximum return.
If each index finishes at or above the 90% buffer level, the payout will be par plus the absolute value of the worse performing index.
Otherwise, investors will receive 1% for each 1% decline of the least performing index beyond the buffer.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlying indexes: | S&P 500 and Russell
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Amount: | $1,796,000
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Maturity: | Aug. 4, 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 125% of return of worse performing index, up to 18% maximum return; if each index finishes above buffer level, par plus the absolute value of worse performing index; otherwise, exposure to any losses of worse performing index beyond buffer
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Initial levels: | 3,225.52 for S&P and 1,614.061 for Russell
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Buffer levels: | 2,902.968 for S&P, 1,452.6549 for Russell; 90% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22551NG42
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