Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.39 million market-linked step-up notes on basket
By Sarah Lizee
Olympia, Wash., June 5 – Credit Suisse AG, London Branch priced $4.39 million of 0% market-linked step-up notes due May 28, 2021 linked to a global 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 Stock Average 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 index with an initial weight of 5%.
If the basket finishes above its step-up level – 127.88% 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 31.15%.
Investors will be exposed to losses.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Market-linked step-up notes
|
| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight)
|
| Amount: | $4,392,140
|
| Maturity: | May 28, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| 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 27.88%; exposure to losses
|
| Step-up level: | 127.88% of initial level
|
| Initial index levels: | 3,318.15 for Stoxx, 7,218.16 for FTSE, 20,942.53 for Nikkei, 9,523.98 for Swiss, 6,392.125 for S&P/ASX, 27,114.88 for Hang Seng
|
| Pricing date: | May 30
|
| Settlement date: | June 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22548Y181
|
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