Published on 5/8/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $200,000 buffered notes linked to Home Depot
By Marisa Wong
Los Angeles, May 8 – Credit Suisse AG, London Branch priced $200,000 of 0% buffered notes due May 7, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above 80% of its initial value, the payout at maturity will be par of $10,000 plus 12.75%.
If the stock declines by more than 20%, investors will receive a number of shares of Home Depot stock equal to $10,000 divided by the buffer price or, at the issuer’s option, the cash equivalent.
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. (Symbol: HD)
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Amount: | $200,000
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Maturity: | May 7, 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 value, par plus 12.75%; otherwise, number of Home Depot shares equal to $10,000 divided by buffer value or, at issuer’s option, cash equivalent
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Initial value: | $200.61
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Buffer value: | $160.49, 80% of initial value
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Final value: | Average of closing share prices on five trading days ending May 4, 2021
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Strike date: | April 21
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Pricing date: | April 23
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Settlement date: | April 28
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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: | 22550MEE5
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