Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.6 million buffered accelerated return notes on S&P 500
Chicago, April 8 – Credit Suisse AG, London Branch priced $3.6 million of 0% buffered accelerated return equity securities due Dec. 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at par plus 38.5%.
Investors will receive par if the index falls by 20% or less and will lose 1% for every 1% decline 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 index: | S&P 500
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Amount: | $3,600,000
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Maturity: | Dec. 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index return capped at par plus 38.5%; par if index declines by 20% or less; 1% loss for every 1% index declines beyond 20%
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Initial index level: | 2304.92
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Buffer level: | 1843.936, 80% of initial level
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Strike date: | March 20
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Pricing date: | March 23
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Settlement date: | March 26
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Underwriters: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22551NVQ6
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