Published on 9/9/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $864,000 buffered accelerated return notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – Credit Suisse AG, London Branch priced $864,000 of 0% buffered accelerated return equity securities due March 3, 2021 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index return is positive, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index, up to a cap of par plus 15%.
Investors will receive par if either index falls by 15% or less and will lose 1% for every 1% that the lesser-performing index declines 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: | $864,000
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Maturity: | March 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 1.5 times return of lesser-performing index, up to par plus 15% cap; par if each index declines by 15% or less; 1% loss for every 1% that lesser-performing index declines beyond 15%
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Initial levels: | 2,926.46 for S&P and 1,494.839 for Russell
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Buffer levels: | 2,487.491 for S&P and 1,270.61315 for Russell; 85% of initial levels
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22552FQX3
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