Published on 8/3/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $20.18 million Accelerated Return Notes linked to three financial stocks
By Angela McDaniels
Tacoma, Wash., Aug. 3 – Credit Suisse AG, London Branch priced $20.18 million of 0% Accelerated Return Notes due Sept. 30, 2016 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.34% weight and Wells Fargo & Co. with a 33.33% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 14.2%. If the basket return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC)
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Amount: | $20,182,450
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Maturity: | Sept. 30, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 14.2%; exposure to any basket decline
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Initial share prices: | $58.88 for Citigroup, $69.04 for JPMorgan and $58.15 for Well Fargo
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Pricing date: | July 30
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Settlement date: | Aug. 6
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22548D476
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