Published on 10/3/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.28 million trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., Oct. 3 – Credit Suisse, London Branch priced $6.28 million of 0% trigger gears due Sept. 30, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a weight of 40%, the FTSE 100 index with a weight of 20%, the Nikkei Stock Average index with a weight of 20%, the Swiss Market index with a weight of 7.5%, the S&P/ASX 200 index with a weight of 7.5% and the Hang Seng index with a weight of 5%.
The payout at maturity will be par of $10 plus 2.95 times any basket gain.
If the basket falls but not below the 75% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng (5%)
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Amount: | $6,278,540
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Maturity: | Sept. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket gains, par plus 2.95 times return; if basket falls but not below 75% downside threshold level, par; otherwise, 1% loss per 1% decline
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Initial levels: | 3,532.18 for Stoxx, 7,351.08 for FTSE, 22,048.24 for Nikkei, 10,010.71 for Swiss Market, 6,677.581 for S&P/ASX and 26,041.93 for Hang Seng
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Pricing date: | Sept. 26
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Settlement date: | Sept. 30
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Agent: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 22550K269
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