Published on 9/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $708,000 accelerated barrier notes tied to indexes
By Marisa Wong
Morgantown, W.Va., Sept. 2 – Credit Suisse AG, London Branch priced $708,000 of 0% accelerated barrier notes due Aug. 31, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either index finishes at or below its knock-in level, 70% of the initial level.
If each index finishes at or above the initial level, the payout at maturity will be par plus 167% of the return of the worse performing index.
If either index falls but a knock-in event has not occurred, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlyings: | S&P 500 index and Russell 2000 index
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Amount: | $708,000
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Maturity: | Aug. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 167% of return of worse performing index; if either index falls by up to knock-in level, par; otherwise, full exposure to any losses of the worse performing index
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Initial levels: | 1,940.51 for S&P and 1,132.188 for Russell
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Knock-in levels: | 1,358.3570 for S&P and 792.5316 for Russell, 70% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 4.1%
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Cusip: | 22546VHV1
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