Published on 11/21/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.02 million Accelerated Return Equity Securities on stock basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Credit Suisse AG, London Branch priced $1.02 million of accelerated return equity securities due Dec. 22, 2020 linked to a basket of an equally weighted basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Apple Inc., Alaska Air Group, Inc., Delta Air Lines Inc., Facebook, Inc., Healthequity, Inc., Lockheed Martin Corp., MGM Resorts International, and Progressive Corp., Sony Corp. and Tesla, Inc.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum return of 21.2%.
Investors will be fully exposed to any basket decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Accelerated Return Equity Securities
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| Underliers: | Apple Inc., Alaska Air Group, Inc., Delta Air Lines Inc., Facebook, Inc., Healthequity, Inc., Lockheed Martin Corp., MGM Resources International, Progressive Corp., Sony Corp. and Tesla, Inc., equal weights
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| Amount: | $1.02 million
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| Maturity: | Dec. 22, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any gain, capped at 21.2%; full exposure to losses
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| Initial levels: | $256.76 for Apple, $70.38 Alaska Air Group, $56.85 for Delta Air Lines, $195.10 for Facebook, $63.80 for Healthequity, $393.55 for Lockheed Martin, $31.18 for MGM Resorts International, $72.90 for Progressive, $62.06 for Sony and $352.17 for Tesla
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 22
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22551NAK2
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