Published on 7/23/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.11 million buffered PLUS tied to S&P MidCap 400
By Taylor Fox
Chicago, July 23 – Credit Suisse AG, London Branch priced $1.1 million of 0% buffered Performance Leveraged Upside Securities due Feb. 3, 2023 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, up to $12.30 per $10 PLUS. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P MidCap 400
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Amount: | $1,108,000
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Maturity: | Feb. 3, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is positive, the payout at maturity will be par plus 200% of the index return, up to $12.30 per $10 PLUS; investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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Initial level: | 1836.55
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Buffer level: | 1652.90, 90% of initial level
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Pricing date: | July 17
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Settlement date: | July 22
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Agents: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
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Fees: | 3%
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Cusip: | 22550V877
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