Published on 3/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.91 million absolute return barrier notes linked to two indexes
By Wendy Van Sickle
Columbus, Ohio, March 31 – Credit Suisse AG, London Branch priced $1.91 million of absolute return barrier securities due April 1, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 165% of the gain of the worse performing index.
If the worse performing index falls but finishes at or above the 70% knock-in level, the payout will be par plus the absolute value of the worse performing index.
Otherwise, investors will be fully exposed to the loss of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,913,000
|
| Maturity: | April 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing index is greater than or equal initial level, par plus 165% of return of lowest-performing index; if final level of lowest-performing index is less than its initial level and each index finishes above knock-in level, par plus absolute value of return of lowest-performing index; if either index finishes at or below its knock-in level, full exposure to decline of lowest-performing index
|
| Initial index levels: | 2,037.05for S&P 500 and 1,080.231for Russell 2000
|
| Knock-in level: | 1,425.935 for S&P 500 and 756.1617 for Russell 2000; 70% of initial levels
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.6%
|
| Cusip: | 22546VXR2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
