Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3 million dual directional capped knock-out notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 6 – Credit Suisse AG, London Branch priced $3 million of 0% dual directional capped knock-out notes due June 12, 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 initial level, the payout at maturity will be par plus the index return, subject to an upside maximum return of 8%.
If the index finishes flat or falls by up to 18.4%, the payout will be par plus the absolute value of the index return.
If the index falls by more than 18.4%, investors will be fully exposed to the decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Dual directional capped knock-out notes
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Underlying index: | Euro Stoxx 50
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Amount: | $3 million
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Maturity: | June 12, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus index return, capped at 8% maximum return; if index declines by 18.4% or less, par plus absolute value of return; otherwise, full exposure to any losses
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Initial level: | 3,515.36
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Final level: | Average of closing index levels on five trading days ending June 7, 2019
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Pricing date: | May 25
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Settlement date: | May 31
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 0.9%
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Cusip: | 22550WWB9
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