Published on 5/15/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $550,000 absolute return barrier securities on S&P, Nasdaq
By Sarah Lizee
Olympia, Wash., May 15 – Credit Suisse AG, London Branch priced $550,000 of 0% absolute return barrier securities due May 18, 2023 linked to the S&P 500 index and the Nasdaq-100 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 110% of the gain of the worse performing index.
If each index finishes at or above the 75% 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 index, Nasdaq-100 index
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Amount: | $550,000
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Maturity: | May 18, 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 110% of 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: | 2820 for S&P, 9000.077 for Nasdaq
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Knock-in levels: | 2115 for S&P, 6750.05775 for Nasdaq, 75% of initial levels
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.2%
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Cusip: | 22552W3M5
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