Published on 5/23/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.59 million absolute return buffered notes on Stoxx, EM ETF
By Marisa Wong
Morgantown, W.Va., May 23 – Credit Suisse AG, London Branch priced $3.59 million of 0% absolute return buffered securities due Feb. 21, 2020 linked to the worse performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its initial level, the payout at maturity will be par plus 153% of the return of the lesser performing underlying.
If the lesser performing underlying falls by up to 15%, the payout will be par plus the absolute value of the return of the lesser performing underlying.
If the lesser performing underlying falls by more than 15%, investors will lose 1% for every 1% decline of the lesser performing underlying beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return buffered securities
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| Underlyings: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $3,588,000
|
| Maturity: | Feb. 21, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlying finishes at or above its initial level, par plus 153% of the return of the lesser performing underlying; if the lesser performing underlying falls by up to 15%, par plus the absolute value of the return of the lesser performing underlying; otherwise, 1% loss for every 1% decline of the lesser performing underlying beyond 15%
|
| Initial levels: | 3,573.76 for index, $46.07 for ETF
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
|
| Cusip: | 22550WU96
|
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