Published on 4/24/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.8 million 18-month Bares on iShares MSCI EAFE
By Marisa Wong
Morgantown, W.Va., April 24 – Credit Suisse AG, London Branch priced $2.8 million of 0% Buffered Accelerated Return Equity Securities due Oct. 8, 2019 tied to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, capped at par plus 16.6%. Investors will receive par if the ETF falls by up to 20% and lose 1.25% for every 1% decline in the ETF beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered Accelerated Return Equity Securities
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Underlying ETF: | iShares MSCI EAFE ETF
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Amount: | $2.8 million
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Maturity: | Oct. 8, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 150% of the ETF return, capped at par plus 16.6%; par if ETF falls by up to 20%; 1.25% loss for every 1% decline in the ETF beyond 20%
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Initial price: | $68.72
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Buffer level: | $54.976, 80% of initial price
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Pricing date: | April 3
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Settlement date: | April 6
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22550WNR4
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