Published on 1/28/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.32 million absolute return barrier notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., Jan. 28 – Credit Suisse AG, London Branch priced $3.32 million of 0% absolute return barrier securities due Jan. 23, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lowest-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 120.15% of the return of the lowest-performing index.
If the final level of the lowest-performing index is less than its initial level but each index finishes at or above its knock-in level, 65% of its initial level, the payout at maturity will be par plus the absolute value of the return of the lowest-performing index.
If either index finishes below its knock-in level, investors will be fully exposed to the decline of the lowest-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Absolute return barrier securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $3.32 million
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| Maturity: | Jan. 23, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of lowest-performing index is greater than or equal initial level, par plus 120.15% of return of lowest-performing index; if final level of lowest-performing index is less than its initial level but each index finishes at or above knock-in level, par plus absolute value of return of lowest-performing index; if either index finishes below its knock-in level, full exposure to decline of lowest-performing index
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| Initial index levels: | 2,670.71 for S&P and 1,482.501 for Russell
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| Knock-in levels: | 1,735.9615 for S&P, 963.62565 for Russell, 65% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22551LTY6
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