Published on 7/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $244,000 CS notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 17 – Credit Suisse AG, London Branch priced $244,000 of CS notes due Dec. 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
A barrier event occurs if the index closes above the upper barrier, 120% of the initial level, or below the lower barrier, 80% of the initial level, on any trading day during the life of the notes.
If a barrier event has occurred, the payout at maturity will be par plus 3%. Otherwise, the payout will be par plus the absolute value of the index return, capped at par plus 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | CS notes
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Underlying index: | S&P 500
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Amount: | $244,000
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index closes above the upper barrier or below the lower barrier on any day during the life of the notes, par plus 3%; otherwise, par plus the absolute value of the index return, capped at par plus 20%
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Initial index levels: | 2,723.06
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Upper barrier: | 3,267.672, 120% of initial level
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Lower barrier: | 2,178.448, 80% of initial level
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Pricing date: | June 26
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Settlement date: | June 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.125%
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Cusip: | 22550WX77
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