Published on 5/12/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.42 million accelerated barrier notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, May 12 – Credit Suisse AG, London Branch priced $1.42 million of 0% accelerated barrier notes due May 11, 2023 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 125% of the return of the worse performing index.
If either index falls but both indexes finish at or above the 70% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier securities
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Underlying indexes: | S&P 500 and Dow Jones industrial average
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Amount: | $1,421,000
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Maturity: | May 11, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 125% of the return of the worse performing index; if either index falls but both indexes finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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Initial levels: | 2,848.42 for S&P, 23,664.64 for Dow
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Knock-in levels: | 1,993.894 for S&P, 16,565.248 for Dow; 70% of initial levels
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Pricing date: | May 6
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Settlement date: | May 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.9%
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Cusip: | 22552W3J2
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