Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.25 million Bares linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $1.25 million of 0% Buffered Accelerated Return Equity Securities due Dec. 31, 2020 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 the lesser-performing index’s return is positive, the payout at maturity will be par plus 150% of the lesser-performing index’s return, subject to a maximum return of 17.5%. Investors will receive par if the lesser-performing index falls by up to 15% and lose 1% for every 1% decline in the lesser-performing index beyond 15%.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered Accelerated Return Equity Securities
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $1,254,000
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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 lesser-performing index return is positive, par plus 150% of index return, up to 17.5% maximum return; par if lesser-performing index falls by up to 15%; 1% loss for every 1% decline in lesser-performing index beyond 15%
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Initial levels: | 2,941.76 for S&P 500 and 1,566.572 for Russell 2000
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Buffer levels: | 2,500.496 for S&P 500 and 1,331.5862 for Russell 2000, or 85% of initial levels
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Pricing date: | June 28
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Settlement date: | July 3
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22552FGV8
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