Published on 8/2/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $445,000 absolute return barrier securities on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – Credit Suisse AG, London Branch priced $445,000 of 0% absolute return barrier securities due Aug. 1, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 152% of the gain of the worse performing index.
If each index finishes at or above the 70% knock-in level, the payout will be par plus the absolute value of the worse performing index.
Otherwise, investors will be fully exposed to the loss of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $445,000
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Maturity: | Aug. 1, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 152% of return of worse performing index; if each index finishes above knock-in level, par plus the absolute value of worse performing index; otherwise, full exposure to any losses of worse performing index
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Initial levels: | 3,020.97 for S&P, 1,569.025 for Russell
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Knock-in levels: | 2,114.679 for S&P, 1,098.3175 Russell, 70% of initial
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Pricing date: | July 29
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Settlement date: | Aug. 1
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.125%
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Cusip: | 22552FNM0
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