Published on 5/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.94 million trigger gears linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 31 – Credit Suisse AG, London Branch priced $3.94 million of 0% trigger gears due May 29, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.76 times the index return. Investors will receive par if the index declines by 50% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 50%.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $3,944,170
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Maturity: | May 29, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is greater than zero, par plus 1.76 times index return; par if index return is less than or equal to zero and final index level is greater than or equal to downside threshold; full exposure to index’s decline from initial level if index finishes below downside threshold
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Initial index level: | 2,090.54
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Downside threshold: | 1,045.27, 50% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Distributor: | UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 22548R301
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