Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.58 million absolute return barrier notes on S&P, Dow
Chicago, April 14 – Credit Suisse AG, London Branch priced $1.58 million of 0% absolute return barrier securities due April 6, 2023 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 120% of the gain of the worse performing index.
If either index declines but finishes at or above the 70% knock-in level, the payout will be par plus the absolute value of the worse performing index.
Otherwise, investors will be fully exposed to the loss of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying indexes: | Dow Jones industrial average and S&P 500
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Amount: | $1,575,000
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Maturity: | April 6, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 120% of the return of worse performing index; if either index declines but finishes above knock-in level, par plus the absolute value of worse performing index; otherwise, full exposure to any losses of worse performing index
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Initial index levels: | 21413.44 for Dow and 2526.90 for S&P
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Knock-in levels: | 14989.408 for Dow and 1768.83 for S&P, 70% of initial levels
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Pricing date: | April 2
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Settlement date: | April 7
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.95%
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Cusip: | 22551NXH4
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