Published on 10/16/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $7.73 million Bares on basket of five indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – Credit Suisse AG, London Branch priced $7.73 million of 0% Buffered Accelerated Return Equity Securities due Oct. 3, 2022 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 69% weight, the iShares MSCI EAFE index with a 15% weight, the S&P Midcap 400 index with an 8% weight, the iShares MSCI Emerging Markets index with a 5% weight and the Russell 2000 index with a 3% weight.
If the basket return is zero or positive, the payout at maturity will be par plus 128% of the basket return. Investors will receive par if the basket falls by up to 20% and lose 1.25% for every 1% decline in the basket beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered Accelerated Return Equity Securities
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| Underlying basket: | S&P 500 index with a 69% weight, MSCI EAFE index with a 15% weight, S&P MidCap 400 index with an 8% weight, iShares MSCI Emerging Markets index with a 5% weight, Russell 2000 index with a 3% weight
|
| Amount: | $7,729,000
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| Maturity: | Oct. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is zero or positive, par plus 128% of the basket return; par if the basket falls by up to 20%; 1.25% loss for every 1% decline in the basket beyond 20%
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| Initial values: | 2,913.98 for S&P 500, 1,973.6 for EAFE, 2,019.55 for S&P Midcap, 1,047.91 for Emerging Markets, 1,696.571 for Russell
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 22551LBC3
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