Published on 7/1/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.99 million trigger gears linked to S&P 500
By Sarah Lizee
Olympia, Wash., July 1 – Credit Suisse AG, London Branch priced $1.99 million of 0% trigger gears due June 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.3225 times the index return. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.
UBS Financial Services Inc. and Credit Suisse Securities (USA) LLC are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $1,988,000
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is greater than zero, par plus 1.3225 times index return; par if index declines by 25% or less; full exposure to index’s decline from initial level if index declines by more than 25%
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Initial level: | 2,917.38
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Downside threshold: | 2,188.04, 75% of initial level
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Pricing date: | June 25
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Settlement date: | June 28
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Agents: | UBS Financial Services Inc. and Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22550F542
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