Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $117,000 Bares on basket of seven stocks
By Wendy Van Sickle
Columbus, Ohio, June 27 – Credit Suisse AG, London Branch priced $117,000 of 0% Buffered Accelerated Return Equity Securities due Dec. 29, 2020 tied to an equally weight basket of seven stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Concho Resources Inc., Pioneer Natural Resources Co., Oasis Petroleum Inc., Whiting Petroleum Corp., Continental Resources, Inc., EOG Resources, Inc. and Parsley Energy, Inc.
If the basket return is zero or positive, the payout at maturity will be par plus 150% of the basket return, up to a maximum payout of par plus 34%. Investors will receive par if the basket falls by up to 15% and lose 1% for every 1% decline in the basket beyond 15%.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered Accelerated Return Equity Securities
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| Underlying basket: | Concho Resources Inc., Pioneer Natural Resources Co., Oasis Petroleum Inc., Whiting Petroleum Corp., Continental Resources, Inc., EOG Resources, Inc. and Parsley Energy, Inc.; equal weights
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| Amount: | $117,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is zero or positive, par plus 150% of the basket return, up to a maximum payout of par plus 34%; par if the basket falls by up to 15%; 1% loss for every 1% decline in the basket beyond 15%
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| Initial values: | $106.87 for Concho, $155.21 for Pioneer, $5.72 for Oasis, $17.51 for Whiting, $40.89 for Continental, $92.37 for EOG, $17.99 for Parsley
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| Pricing date: | June 21
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| Settlement date: | June 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 22552FJQ6
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