Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $250,000 absolute return buffered notes on S&P Oil
By Sarah Lizee
Olympia, Wash., Aug. 27 – Credit Suisse AG, London Branch priced $250,000 of 0% absolute return buffered securities due Aug. 26, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will be par plus 150% of the return, capped at par plus 42%.
If the fund falls by up to 15%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline of the fund beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlying fund: | SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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Amount: | $250,000
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Maturity: | Aug. 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund finishes at or above its initial level, par plus 150% of the return, capped at par plus 42%; if fund falls by up to 15%, par plus the absolute value of the return; 1% loss for every 1% decline of the fund beyond 15%
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Initial level: | $41.51
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Buffer level: | $35.2835, 85% of initial level
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Pricing date: | Aug. 23
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Settlement date: | Aug. 28
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.2%
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Cusip: | 22551L4G2
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