Published on 9/26/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $600,000 return enhanced notes linked to regional banking ETF
By Angela McDaniels
Tacoma, Wash., Sept. 26 – Credit Suisse AG, London Branch priced $600,000 of 0% return enhanced notes due Oct. 10, 2018 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par plus two times the ETF return, subject to a maximum return of 22.02%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Return enhanced notes
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Underlying ETF: | SPDR S&P Regional Banking ETF
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Amount: | $600,000
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Maturity: | Oct. 10, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final share price is greater than initial share price, par plus two times ETF return, subject to maximum return of 22.02%; if final share price is less than initial share price, one-to-one exposure to decline
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Initial share price: | $54.40
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Final share price: | Average of ETF’s closing share prices on five trading days ending Oct. 5, 2018
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22550BJ53
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