Published on 4/20/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $8.44 million trigger PLUS tied to four stocks
By Susanna Moon
Chicago, April 20 – Credit Suisse AG, London Branch priced $8.44 million of 0% trigger Performance Leveraged Upside Securities due April 16, 2021 linked to a basket of four equally weighted common stock and units, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Enterprise Products Partners LP, Kinder Morgan, Inc., Western Gas Partners, LP and Plains All American Pipeline, LP.
The payout at maturity will be par plus 200% of any basket gain, up to a maximum return of 80%.
Investors will receive par if the basket falls by up to 25% and will be fully exposed to any losses if the basket finishes below the 75% trigger level.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying basket: | Enterprise Products Partners LP (Symbol: EPD), Kinder Morgan, Inc. (Symbol: KMI), Western Gas Partners, LP (Symbol: WES) and Plains All American Pipeline, LP (Symbol: PAA), equally weighted
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Amount: | $8.44 million
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Maturity: | April 16, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any basket gain, capped at 80%; par if basket falls by up to 25%; 1% loss per 1% decline if basket finishes below trigger level
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Initial levels: | $25.76 for Enterprise, $15.33 for Kinder Morgan, $43.99 for Western Gas and $23.82 for Plains All American
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Trigger levels: | 75% of initial levels
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Pricing date: | April 13
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Settlement date: | April 18
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Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC handling distribution
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Fees: | 2.5%
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Cusip: | 22549M301
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