Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.69 million buffered accelerated return notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $1.69 million of 0% buffered accelerated return equity securities due May 31, 2019 linked to the lesser 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 fund return is positive, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index, up to an 11% return cap.
Investors will receive par if either index falls by 10% or less and will lose 1% for every 1% that the lesser-performing fund declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London
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Issue: | Buffered accelerated return equity securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,693,000
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Maturity: | May 31, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If each index return is positive, par plus 1.5 times return of lesser-performing index, up to an 11% return cap; par if each index declines by 10% or less; 1% loss for every 1% that lesser-performing index declines beyond 10%
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Initial levels: | 2,639.40 for S&P and 1,550.467 for Russell
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Buffer levels: | 2,375.46 for S&P, 1,395.4203 for Russell; 90% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 2.18%
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Cusip: | 22550WKJ5
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