Published on 5/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $300,000 knock-out notes on S&P Regional Banks
By Marisa Wong
Morgantown, W.Va., May 17 – Credit Suisse AG, London Branch priced $300,000 of 0% capped knock-out notes due May 30, 2019 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange.
If the index return is positive, the payout at maturity will be par plus the index gain, subject to a maximum return of 23.3%.
If the index finishes flat or falls by no more than 15%, the payout will be par.
If the index falls more than 15%, investors will be fully exposed to the index’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Capped knock-out notes
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Underlying index: | S&P Regional Banks Select Industry index
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Amount: | $300,000
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Maturity: | May 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 23.3%; par if index finishes flat or falls by up to 15%; otherwise, full exposure to index’s decline
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Initial level: | 1,999.02
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Knock-out level: | 1,699.17, 85% of initial level
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Final level: | Average of index’s closing levels on five trading days ending May 24, 2019
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Pricing date: | May 11
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Settlement date: | May 16
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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: | 22550WTT4
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