Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 accelerated barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 8 – Credit Suisse AG, London Branch priced $500,000 of 0% accelerated barrier notes due April 3, 2025 linked to 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 its initial level, the payout at maturity will be par plus 150% of the return of the worse performing index.
If either index falls but both indexes finish at or above the 50% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $500,000
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Maturity: | April 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 150% of the return of the worse performing index; if either index falls but both indexes finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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Initial levels: | 2,626.65 for S&P and 1,158.317 for Russell
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Knock-in levels: | 1,313.325 for S&P and 579.1585 for Russell; 50% of initial levels
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Pricing date: | March 30
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Settlement date: | April 2
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Agents: | Credit Suisse Securities (USA) LLC
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Fees: | 4.125%
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Cusip: | 22551NWT9
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