Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $720,000 buffered return equity notes on three indexes
By Sarah Lizee
Olympia, Wash., Feb. 14 – Credit Suisse AG, London Branch priced $720,000 of 0% buffered return equity securities due Feb. 6, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index gains or finishes flat, the payout at maturity will be par plus the return of the least-performing index.
If any index declines by up to 46.5% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond the buffer.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered return equity securities
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
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Amount: | $720,000
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Maturity: | Feb. 6, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains or finishes flat, par plus gain of least-performing index; par if any index falls by up to buffer level; 1% loss for each 1% that least-performing index declines beyond buffer
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Initial levels: | 3,248.92 for S&P, 28,399.81 for Dow, 9,126.232 for Nasdaq
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Buffer levels: | 1,738.1722 for S&P, 15,193.89835 for Dow, 4,882.53412 for Nasdaq, 53.5% of initial levels
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Pricing date: | Feb. 3
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Settlement date: | Feb. 6
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.075%
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Cusip: | 22551NK54
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