Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $699,000 absolute return barrier notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., June 5 – Credit Suisse AG, London Branch priced $699,000 of 0% absolute return barrier securities due June 3, 2020 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lowest-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 117.5% of the return of the lowest-performing index.
If the final level of the lowest-performing index is less than its initial level and each index finishes above its knock-in level, 72% of its initial level, the payout at maturity will be par plus the absolute value of the return of the lowest-performing index.
If either index finishes at or below its knock-in level, investors will be fully exposed to the decline of the lowest-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: | $699,000
|
| Maturity: | June 3, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing index is greater than or equal initial level, par plus 117.5% 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: | 2,411.80 for S&P 500 and 1,370.208 for Russell 2000
|
| Knock-in levels: | 1,736.496 for S&P 500 and 986.54976 for Russell 2000; 72% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.2%
|
| Cusip: | 22550B5C3
|
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