Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.82 million leveraged notes due 2021 on basket
By Sarah Lizee
Olympia, Wash., Oct. 10 – Credit Suisse AG, London Branch priced $3.82 million of 0% leveraged notes due June 9, 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, up to a maximum settlement amount of $1,657 per $1,000 of notes.
If the basket return is negative, investors will be exposed to the basket’s decline.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Leveraged notes
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Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight), S&P/ASX 200 index (8% weight)
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Amount: | $3,817,000
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Maturity: | June 9, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 300% of basket return, up to a maximum settlement amount of $1,657 per $1,000 of notes; if basket return is negative, exposure to basket’s decline
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Initial index levels: | 3,413.31 for Stoxx, 1,596.29 for Topix, 7,122.54 for FTSE, 9,757.28 for Swiss and 6,639.942 for S&P/ASX
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Pricing date: | Oct. 2
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Settlement date: | Oct. 9
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22552FXV9
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