Published on 5/9/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million buffered return equity notes on S&P, Russell
By Tali Rackner
Minneapolis, May 9 – Credit Suisse AG, London Branch priced $1.04 million of 0% buffered return equity securities due April 26, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index gains or finishes flat, the payout at maturity will be par plus the return of the lesser-performing index.
If either index declines by up to 30% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 30%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered return equity securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $1,035,000
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Maturity: | April 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains or finishes flat, par plus gain of lesser-performing index; par if either index falls by up to 30%; 1% loss for each 1% that lesser-performing index declines beyond 30%
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Initial levels: | 2,670.14 for S&P and 1,564.124 for Russell
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Buffer levels: | 1,869.09 for S&P and 1,094.8868 for Russell, 70% of initial levels
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Pricing date: | April 20
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Settlement date: | April 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.45%
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Cusip: | 22550WNM5
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