Published on 9/28/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $14.49 million Accelerated Return Notes tied to index basket
By Marisa Wong
Morgantown, W.Va., Sept. 28 – Credit Suisse AG, London Branch priced $14.49 million of 0% Accelerated Return Notes due Nov. 23, 2016 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 15.36%. If the final basket level is less than the initial basket level, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $14,489,670
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Maturity: | Nov. 23, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 15.36%; exposure to any losses
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Pricing date: | Sept. 24
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Settlement date: | Oct. 1
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22548D427
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