Published on 4/20/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $388,000 absolute return barrier securities on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, April 20 – Credit Suisse AG, London Branch priced $388,000 of 0% absolute return barrier securities due April 19, 2023 linked to the Russell 2000 index and the S&P 500 index, 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 1.4 times the gain of the worse performing index.
If each index finishes at or above the 85% 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: | S&P 500 and Russell 2000
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Amount: | $388,000
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Maturity: | April 19, 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 1.4 times return of worse performing index; if each index 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 levels: | 2,874.56 for S&P and 1,229.098 for Russell
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Knock-in levels: | 2,443.376 for S&P and 1,044.7333 for Russell, 85% of initial levels
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Pricing date: | April 17
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Settlement date: | April 21
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22551NYN0
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