Published on 5/28/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $24.74 million leveraged buffered notes on indexes
By Marisa Wong
Madison, Wis., May 28 – Credit Suisse AG, London Branch priced $24.74 million of 0% leveraged buffered notes due June 1, 2017 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 37% weight, FTSE 100 index with a 23% weight, Topix index with a 23% weight, Swiss Market index with a 9% weight and S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, subject to a maximum settlement amount of $1,183 per $1,000 principal amount. The exact maximum payment will be set at pricing.
Investors will receive par if the basket declines by up to 10% and will lose 1.1111% for each 1% decline in the basket beyond the 10% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Leveraged buffered notes
|
| Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
|
| Amount: | $24,741,000
|
| Maturity: | June 1, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 150% of basket return, subject to maximum settlement amount of $1,183 per $1,000 principal amount of notes; par if basket declines by 10% or less; 1.1111% loss for every 1% that basket declines beyond 10%
|
| Initial index levels: | 3,619.30 for Euro Stoxx, 6,948.99 for FTSE 100, 1,659.57 for Topix, 9,272.68 for Swiss Market and 5,773.383 for S&P/ASX 200
|
| Pricing date: | May 26
|
| Settlement date: | June 2
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22546VDT0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
