Published on 8/24/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.5 million dual directional trigger PLUS on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 24 – Credit Suisse AG, London Branch priced $2. 5 million of 0% dual directional trigger Performance Leveraged Upside Securities due Aug. 21, 2020 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par of $10 plus 200% of the gain of the worse performing index, up to a maximum return of 30.5%.
If either index falls by up to the 75% trigger level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $2.5 million
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| Maturity: | Aug. 21, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index gains, par plus 200% of return of worse performing index, capped at 30.5%; if either index falls by up to 25%, par plus absolute value of return of worse performing index; otherwise, full exposure to any losses of worse performing index
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| Initial index levels: | 2,425.55 for S&P, 1,357.793 for Russell
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| Trigger levels: | 1,819.96 for S&P and 1,018.345 for Russell, 75% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Credit Suisse Securities (USA) LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 22549C808
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