Published on 12/8/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $10.05 million return enhanced notes linked to SPDR S&P Bank ETF
By Angela McDaniels
Tacoma, Wash., Dec. 8 – Credit Suisse AG, London Branch priced $10.05 million of 0% return enhanced notes due June 2, 2016 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange.
If the ETF return is positive, the payout at maturity will be par plus two times the ETF return, up to a maximum return of 10.54%. If the ETF return is negative, investors will have one-to-one exposure to the decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Return enhanced notes
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Underlying ETF: | SPDR S&P Bank ETF
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Amount: | $10.05 million
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Maturity: | June 2, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus two times ETF return, up to 10.54% maximum return; if ETF return is negative, one-to-one exposure to decline
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Initial share price: | $36.23
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Pricing date: | Dec. 4
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Settlement date: | Dec. 9
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 5%
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Cusip: | 22546VRT5
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