Published on 1/8/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $819,000 absolute return barrier notes on Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Credit Suisse AG, London Branch priced $819,000of 0% absolute return barrier securities due Dec. 31, 2021 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lowest-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 140% of the return of the lowest-performing index.
If the final level of the lowest-performing index is less than its initial level and each index finishes above its knock-in level, 70% of its initial level, the payout at maturity will be par plus the absolute value of the return of the lowest-performing index.
If either index finishes at or below its knock-in level, investors will be fully exposed to the decline of the lowest-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: | Dow Jones industrial average and Russell 2000
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Amount: | $819,000
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Maturity: | Dec. 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of lowest-performing index is greater than or equal initial level, par plus 140% of return of lowest-performing index; if final level of lowest-performing index is less than its initial level and each index finishes above knock-in level, par plus absolute value of return of lowest-performing index; if either index finishes at or below its knock-in level, full exposure to decline of lowest-performing index
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Initial index levels: | 24,837.51 for Dow and 1,548.926 for Russell
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Knock-in levels: | 17,386.257 for Dow, 1,080.926 for Russell, 70% of initial levels
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Pricing date: | Dec. 28
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Settlement date: | Jan. 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22550BRD7
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