Published on 12/11/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.84 million Bares tied to S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Dec. 11 - Credit Suisse AG, London Branch priced $5.84 million of 0% Buffered Accelerated Return Equity Securities due Dec. 14, 2016 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lowest-performing index is zero or positive, the payout at maturity will be par plus 156% of that index's return. If the index return of the lowest-performing index is negative but not less than negative 15%, the payout will be par. Otherwise, investors will lose 1.17647% for every 1% decline in the lowest-performing index beyond 15%.
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: | $5.84 million
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Maturity: | Dec. 14, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of the lowest-performing index is zero or positive, par plus 156% of that index's return; if return of the lowest-performing index is negative but not less than negative 15%, par; otherwise, 1.17647% loss for every 1% decline in lowest-performing index beyond 15%
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Initial levels: | 1,808.37 for S&P, 1,129.84 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | Dec. 9
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Settlement date: | Dec. 12
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22547QEK8
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