Published on 7/24/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.01 million buffered accelerated return notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, July 24 – Credit Suisse AG, London Branch priced $1.01 million of 0% buffered accelerated return equity securities due Jan. 26, 2021 linked to an equally weighted basket of nine stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the stocks of Halliburton Co., Marathon Petroleum Corp., Patterson-UTI Energy, Inc., Plains GP Holdings, LP, Whiting Petroleum Corp., EOG Resources, Inc., Oasis Petroleum Inc., Continental Resources, Inc. and Diamondback Energy Inc.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the return of the basket, up to a maximum gain of 25%.
Investors will receive par if the basket falls by 15% or less and will lose 1% for every 1% that the basket declines beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered accelerated return equity securities
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| Basket components: | Halliburton Co., Marathon Petroleum Corp., Patterson-UTI Energy, Inc., Plains GP Holdings, LP, Whiting Petroleum Corp., EOG Resources, Inc., Oasis Petroleum Inc., Continental Resources, Inc. and Diamondback Energy Inc., equal weights
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| Amount: | $1,014,000
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| Maturity: | Jan. 26, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 1.5 times the return of the basket, up to 25% maximum gain; par if the basket falls by 15% or less and will lose 1% for every 1% that the basket declines beyond 15%
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| Initial levels: | $21.75 for Halliburton, $10.77 for Marathon, $55.24 for Patterson-UTI, $24.75 for Plains, $15.66 for Whiting, $87.04 for EOG, $4.60 for Oasis, $36.26 for Continental Resources, $104.61 for Diamondback
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| Pricing date: | July 19
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| Settlement date: | July 24
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| Underwriter: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552FN81
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