Published on 5/12/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $133,000 buffered accelerated return notes on S&P, Russell
By Kiku Steinfeld
Chicago, May 12 – Credit Suisse AG, London Branch priced $133,000 of 0% buffered accelerated return equity securities due Oct. 28, 2021 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index, capped at par plus 24%.
Investors will receive par if either index falls by 10% or less and will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered accelerated return equity securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $133,000
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Maturity: | Oct. 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index closes at or above initial level, par plus 1.5 times return of lesser-performing index capped at par plus 24%; par if each index declines by 10% or less; 1% loss for every 1% that lesser-performing index declines beyond 10%
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Initial levels: | 2836.74for S&P and 1233.053 for Russell
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Buffer levels: | 2553.066 for S&P and 1109.7477 for Russell; 90% of initial levels
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Pricing date: | April 24
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Settlement date: | April 29
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22551NZ66
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