Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $862,000 accelerated barrier notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., July 26 – Credit Suisse AG, London Branch priced $862,000 of 0% accelerated barrier notes due July 29, 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 its initial level, the payout at maturity will be par plus 120% of the return of the worse performing index.
If either index falls but both indexes finish at or above the 70% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $862,000
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Maturity: | July 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 120% of the return of the worse performing index; if either index falls but both indexes finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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Initial index levels: | 2,820.40 for S&P, 1,680.195 for Russell
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Knock-in levels: | 1,974.28 for S&P, 1,176.1365 for Russell, 70% of initial levels
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Pricing date: | July 24
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Settlement date: | July 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 22550WZS9
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