Published on 9/19/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.93 million Accelerated Return Securities on indexes, ETF
By Marisa Wong
Madison, Wis., Sept. 19 – Credit Suisse AG, London Branch priced $3.93 million of 0% Accelerated Return Securities due March 22, 2018 linked to equal weights of the MSCI Taiwan index, the Hang Seng China Enterprises index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is zero or positive, the payout at maturity will be par plus 127% of the return.
Investors will receive par if the basket falls by up to 25% and will be fully exposed to losses from the initial level if the basket drops below the 75% trigger level.
Barclays is the placement agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Securities
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Underlying basket: | MSCI Taiwan index, Hang Seng China Enterprises index and iShares MSCI Emerging Markets ETF; equally weighted
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Amount: | $3,928,000
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Maturity: | March 22, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 127% of any basket gain; par if basket falls by up to 25%; full exposure to losses from initial level if basket drops below 75% trigger level
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Initial levels: | 336.00 for MSCI Taiwan, 10,893.01 for Hang Seng, $43.73 for ETF
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Pricing date: | Sept. 17
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Settlement date: | Sept. 22
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Agent: | Barclays (placement)
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Fees: | 2.75%
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Cusip: | 22547QTK2
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