Published on 9/28/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.27 million knock-out notes linked to S&P 500
By Tali Rackner
Norfolk, Va., Sept. 28 – Credit Suisse AG, London Branch priced $1.27 million of 0% knock-out notes due Dec. 28, 2017 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 85% threshold level, the payout will be $1,087.50 per $1,000 principal amount of notes.
If the index falls by more than the 15% knock-out buffer, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500
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Amount: | $1,265,000
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Maturity: | Dec. 28, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8.75% unless final index level is less than initial index level by more than 15%, in which case 1% loss for every 1% that final index level is below initial index level
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Initial index level: | 2,164.69
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Final index level: | Average of index’s closing levels on five trading days ending Dec. 22, 2017
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.12%
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Cusip: | 22548QJ55
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