Published on 12/2/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.84 million trigger gears linked to S&P 500
By Susanna Moon
Chicago, Dec. 2 – Credit Suisse AG, London branch priced $2.84 million of 0% trigger gears due Nov. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.3 times any index gain.
Investors will receive par if the index falls by up to 40% and will be fully exposed to any losses if the index finishes below the 60% trigger level.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London branch
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $2,836,520
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Maturity: | Nov. 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.3 times any index gain; par if index falls by up to 40% and full exposure to any losses beyond trigger level
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Initial level: | 2,201.72
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Trigger level: | 1,321.03, 60% of initial level
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Agent: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 22548T471
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