Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $317,000 absolute return barrier notes on index, fund
By Sarah Lizee
Olympia, Wash., July 26 – Credit Suisse AG, London Branch priced $317,000 of 0% absolute return barrier securities due July 27, 2023 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lowest-performing asset is greater than or equal to its initial level, the payout at maturity will be par plus 125% of the return of the lowest-performing asset.
If the final level of the lowest-performing asset is less than its initial level but each asset finishes at or above its knock-in level, 50% of its initial level, the payout at maturity will be par plus the absolute value of the return of the lowest-performing asset.
If either asset finishes below its knock-in level, investors will be fully exposed to the decline of the lowest-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying assets: | Euro Stoxx 50 and iShares MSCI Emerging Markets ETF
|
| Amount: | $317,000
|
| Maturity: | July 27, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing asset is greater than or equal initial level, par plus 125% of return of lowest-performing asset; if final level of lowest-performing asset is less than its initial level but each asset finishes at or above knock-in level, par plus absolute value of return of lowest-performing asset; if either asset finishes below its knock-in level, full exposure to decline of lowest-performing asset
|
| Initial levels: | 3,483.31 for index and $44.31 for ETF
|
| Knock-in levels: | 1,741.655 for index and $22.155 for ETF, 50% of initial levels
|
| Pricing date: | July 24
|
| Settlement date: | July 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.125%
|
| Cusip: | 22550WZU4
|
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