Published on 2/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $10.2 million step-up notes tied to Euro Stoxx 50
By Devika Patel
Knoxville, Tenn., Feb. 28 – Credit Suisse AG, London Branch priced $10.2 million of 0% market-linked step-up notes due Feb. 21, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, 128.85% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 28.85%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $10,197,030
|
| Maturity: | Feb. 21, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 28.85%; 1% loss for each 1% decline
|
| Initial index level: | 3,333.96
|
| Step-up value: | 4,295.81, 128.85% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 2
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22547V394
|
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