Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.28 million leveraged buffered notes on S&P 500
By Kiku Steinfeld
Chicago, Oct. 10 – Credit Suisse AG, London Branch priced $2.28 million of 0% leveraged buffered index-linked notes due Jan. 26, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 170% of any index gain, up to a maximum settlement amount of $1,255.85 for each $1,000 principal amount of notes.
Investors will receive par if the index finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
Credit Suisse (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $2,283,000
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Maturity: | Jan. 26, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 170% of index return, capped at par plus $1,255.85 per each $1000,000 principal amount of notes; par if index finishes flat or falls by up to 15%; 1.1765% loss for every 1% decline beyond 15%
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Initial level: | 2977.62
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Pricing date: | Sept. 26
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Settlement date: | Oct. 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22552FXJ6
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