Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.13 million knock-out notes due 2019 on Stoxx 50
By Susanna Moon
Chicago, June 6 – Credit Suisse AG, London Branch priced $3.13 million of 0% knock-out notes due Nov. 27, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the fixed return of 9.5%.
If the index falls by up to its 70% knock-out level, the payout will be par.
If the index falls by more than the 30%, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | Euro Stoxx 50
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Amount: | $3.13 million
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Maturity: | Nov. 27, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus greater of return and 9.5%; if index falls by up to 30%, par; otherwise, 1% loss for each 1% index decline
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Initial level: | 3,515.36
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Knock-out level: | 2,460.752, 70% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 22550WVG9
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