Published on 7/14/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $862,000 absolute return barrier notes linked to Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, July 14 – Credit Suisse AG, London Branch priced $862,000 of 0% absolute return barrier securities due July 6, 2021 linked to the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lowest-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 150% of the return of the lowest-performing index.
If the final level of the lowest-performing index is less than its initial level and each index finishes above its knock-in level, 70% of its initial level, the payout at maturity will be par plus the absolute value of the return of the lowest-performing index.
If either index finishes at or below its knock-in level, investors will be fully exposed to the decline of the lowest-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: | $862,000
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| Maturity: | July 6, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of lowest-performing index is greater than or equal initial level, par plus 150% of return of lowest-performing index; if final level of lowest-performing index is less than its initial level and each index finishes above knock-in level, par plus absolute value of return of lowest-performing index; if either index finishes at or below its knock-in level, full exposure to decline of lowest-performing index
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| Initial index levels: | 21,349.630 for Dow, 1,415.359 for Russell
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| Knock-in levels: | 14,944.741 for Dow, 990.7513 for Russell, 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2% Cusip: | 22550B6E8
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