Published on 4/1/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $32 million accelerated barrier notes on S&P 500
By Marisa Wong
Los Angeles, April 1 – Credit Suisse AG, London Branch priced $32 million of 0% accelerated barrier notes due March 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 172.25% of the index return.
If the index falls by up to 25%, the payout will be par. Otherwise, investors will be fully exposed to the index decline.
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 index: | S&P 500
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Amount: | $32 million
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Maturity: | March 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 172.25% of any index gain; if the index falls by up to 25%, par; otherwise, full exposure to the index decline
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Initial level: | 2,447.33
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Knock-in level: | 1,835.4975, 75% of initial level
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Strike date: | March 24
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Pricing date: | March 25
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Settlement date: | March 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22551NW44
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