Published on 7/9/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $900,000 dual directional knock-out notes linked to Euro Stoxx
By Angela McDaniels
Tacoma, Wash., July 9 – Credit Suisse AG, London Branch priced $900,000 of 0% dual directional capped knock-out notes due July 20, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum upside return of 7%.
If the final index level is less than the initial index level but has not declined by more than 16.5%, the payout will be par plus the absolute value of the index return.
If the index declines by more than 16.5%, investors will have one-to-exposure to the index’s decline from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Dual directional capped knock-out notes
|
| Underlying index: | Russell 2000
|
| Amount: | $900,000
|
| Maturity: | July 20, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return, subject to 7% maximum upside return; if final index level is less than initial index level but has not declined by more than 16.5%, par plus absolute value of index return; if index declines by more than 16.5%, one-to-exposure to index’s decline from initial level
|
| Initial level: | 3,540.63
|
| Knock-out level: | 2,956.43, 83.5% of initial level
|
| Final index level: | Average of index’s closing levels on five trading days ending July 15, 2020
|
| Pricing date: | July 3
|
| Settlement date: | July 9
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22552FNR9
|
© 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.
