Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $880,000 accelerated barrier notes on Dow, Russell
By Sarah Lizee
Olympia, Wash., Nov. 5 – Credit Suisse AG, London Branch priced $880,000 of 0% accelerated barrier notes due Nov. 3, 2023 linked to the Dow Jones Industrial Average and the Russell 2000 index, 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 175% of the return of the worse performing index.
If either index finishes below its initial level but neither has ever closed below 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: | Dow Jones Industrial Average and Russell 2000
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Amount: | $880,000
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Maturity: | Nov. 3, 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 175% of the return of the worse performing index; if either index falls but neither index has ever closed below knock-in level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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Initial index levels: | 25,115.76 for Dow and 1,511.413 for Russell
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Knock-in levels: | 17,581.032 for Dow and 1,057.9891 for Russell, 70% of initial levels
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Pricing date: | Nov. 1
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Settlement date: | Nov. 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.125%
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Cusip: | 22551LD98
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