Published on 2/25/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $14.3 million absolute return barrier notes on Dow
By Angela McDaniels
Tacoma, Wash., Feb. 21 - Credit Suisse AG, London Branch priced $14.3 million of 0% absolute return barrier notes due March 2, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 132% of the index return.
If the final index level is less than the initial index level but greater than or equal to the knock-out level, the payout will be par plus the absolute value of the index return. The knock-out level is 70% of the initial index level.
If the final index level is less than the knock-out level, investors will lose 1% for every 1% that the index declines below the initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $14,304,000
|
| Maturity: | March 2, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 132% of index return; if final index level is less than initial index level but greater than or equal to knock-out level, par plus absolute value of index return; if final index level is less than knock-out level, 1% loss for every 1% that index declines below initial level
|
| Initial index level: | 16,103.30
|
| Knock-in level: | 11,272.31, 70% of initial level
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.55%
|
| Cusip: | 22547QH58
|
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