Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $250,000 absolute return buffered notes on two funds
By Sarah Lizee
Olympia, Wash., Aug. 27 – Credit Suisse AG, London Branch priced $250,000 0% absolute return buffered securities due Aug. 26, 2021 linked to the worse performing of the Energy Select Sector SPDR fund and the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its initial level, the payout at maturity will be par plus 150% of the return of the lesser performing underlying, capped at par plus 45%.
If the lesser performing underlying falls by up to 15%, the payout will be par plus the absolute value of the return of the lesser performing underlying.
If the lesser performing underlying falls by more than 15%, investors will lose 1% for every 1% decline of the lesser performing underlying beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return buffered securities
|
| Underlyings: | Energy Select Sector SPDR fund and VanEck Vectors Oil Services exchange-traded fund
|
| Amount: | $250,000
|
| Maturity: | Aug. 26, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlying finishes at or above its initial level, par plus 150% of the return of the lesser performing underlying, capped at par plus 45%; if the lesser performing underlying falls by up to 15%, par plus the absolute value of the return of the lesser performing underlying; if the lesser performing underlying falls by more than 15%, 1% loss for every 1% decline of the lesser performing underlying beyond 15%
|
| Initial levels: | $74.00 for Energy Select, $24.93 for VanEck
|
| Buffer levels: | $62.90 for Energy Select, $21.1905 for VanEck, 85% of initial levels
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.2%
|
| Cusip: | 22551L4H0
|
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