New Issue: Credit Suisse prices $735,000 return enhanced notes on fund basket

By Tali Rackner

Norfolk, Va., Feb. 24 – Credit Suisse AG, London Branch priced $735,000 of 0% return enhanced notes due March 8, 2017 linked to an equally weighted basket of three funds, according to a 424B2 filing with the Securities and Exchange.

The basket contains the Consumer Discretionary Select Sector SPDR fund, the Technology Select Sector SPDR fund and the Health Care Select Sector SPDR fund.

The payout at maturity will be par plus triple any basket gain, subject to a maximum return of 18%.

Investors will be fully exposed to any decline in the basket.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Return enhanced notes
Underlying funds:	Consumer Discretionary Select Sector SPDR fund (33.33%), Technology Select Sector SPDR fund (33.33%) and Health Care Select Sector SPDR fund (33.33%)
Amount:	$735,000
Maturity:	March 8, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus three times basket return, up to 18% maximum return; if index return is negative, one-to-one exposure to decline
Initial levels:	$72.74 for Consumer Discretionary Select, $40.66 for Technology Select and $65.93 for Health Care Select
Final basket level:	Average of basket’s closing levels on five trading days ending March 3, 2017
Pricing date:	Feb. 19
Settlement date:	Feb. 24
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22546VX84

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.