Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $120,000 buffered notes due 2021 on Home Depot
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $120,000 of 0% buffered notes due May 12, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above 80% of its initial level, the payout at maturity will be par of $10,000 plus 10.65%.
If the stock declines by more than 20%, investors will be exposed to the loss beyond 20% and will be paid in shares of the underlying stock.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered notes
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Underlying shares: | Home Depot, Inc.
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Amount: | $120,000
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Maturity: | May 12, 2021
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Coupon: | 0%
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Price: | Par of $10,000
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Payout at maturity: | If stock finishes at or above 80% of initial level, par plus 10.65%; otherwise, number of Home Depot shares equal to $10,000 divided by buffer level or, at issuer’s option, amount of cash equal to value of those shares
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Initial level: | $212.18
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Buffer level: | $169.74, 80% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22550MEJ4
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