Published on 11/16/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $8.7 million dual directional trigger PLUS on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Credit Suisse AG, London Branch priced $8.7 million of 0% dual directional trigger Performance Leveraged Upside Securities due Dec. 19, 2019 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the gain, up to a maximum payout of $11 per $10 PLUS.
If the index falls by up to 15%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $8,704,740
|
| Maturity: | Dec. 19, 2019
|
| Coupon: | 0%
|
| Price: | Par or $10
|
| Payout at maturity: | If index gains, par plus return, up to maximum of $11 per plus; if index falls by up to 15%, par plus absolute return; otherwise, 1% loss per 1% decline
|
| Initial level: | 2,701.58
|
| Trigger level: | 2,296.34, 85% of initial level
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 19
|
| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 2.25%
|
| Cusip: | 22549R755
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