Published on 8/3/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $54.91 million Accelerated Return Notes linked to S&P Regional Banks
By Angela McDaniels
Tacoma, Wash., Aug. 3 – Credit Suisse AG, London Branch priced $54.91 million of 0% Accelerated Return Notes due Sept. 30, 2016 linked to the S&P Regional Banks Select Industry 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 of $10 plus 300% of the index return, subject to a maximum return of 16.29%. If the index return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying index: | S&P Regional Banks Select Industry
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Amount: | $54,913,940
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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 index gain, capped at 16.29%; exposure to any index decline
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Initial index level: | 1,366.51
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Final index level: | Average of index’s closing levels on five trading days ending Sept. 27, 2016
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Pricing date: | July 30
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Settlement date: | Aug. 6
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22548D583
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