Published on 10/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $13.2 million market-linked step-up notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – Credit Suisse AG, London Branch priced $13.2 million of 0% market-linked step-up notes due Sept. 24, 2020 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index with an initial weight of 20%, the Nikkei 225 index with an initial weight of 20%, the Swiss Market index with an initial weight of 7.5%, the S&P/ASX 200 index with an initial weight of 7.5% and the Hang Seng China Enterprises index with an initial weight of 5%.
If the basket finishes above its step-up level – 128.72% of the initial level – the payout at maturity will be par plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up return of 28.72%.
Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Market-linked step-up notes
|
| Underlying basket: | Euro Stoxx 50 index with an initial weight of 40%, FTSE 100 index with an initial weight of 20%, Nikkei 225 index with an initial weight of 20%, Swiss Market index with an initial weight of 7.5%, S&P/ASX 200 index with an initial weight of 7.5% and Hang Seng China Enterprises index with an initial weight of 5%
|
| Amount: | $13,200,060
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| Maturity: | Sept. 24, 2020
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above the step-up level, par plus gain; if basket gains by up to step-up level, par plus 28.72%; full exposure to declines
|
| Initial index levels: | 3,499.79 for Euro Stoxx, 7,545.44 for FTSE, 23,796.74 for Nikkei, 9,112.22 for Swiss, 6,181.215 for S&P/ASX, 27,715.67 for Hang Seng
|
| Step-up level: | 128.72% of initial basket level
|
| Pricing date: | Sept. 27
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| Settlement date: | Oct. 4
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
|
| Cusip: | 22548Y462
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