Published on 3/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $16.2 million trigger step performance securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 31 – Credit Suisse AG, London Branch priced $16.2 million of 0% trigger step performance securities due March 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return of 40% and the index return.
Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger step performance securities
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Underlying index: | S&P 500
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Amount: | $16,200,120
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Maturity: | March 31, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is zero or positive, par plus greater of index return and 40%; par if index falls by 25% or less; full exposure to losses if index falls more than 25%
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Initial level: | 2,037.05
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Trigger level: | 1,527.79, 75% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Distributor: | UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 22548J689
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