Published on 8/25/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $700,000 accelerated barrier notes on S&P, S&P MidCap
By Kiku Steinfeld
Chicago, Aug. 25 – Credit Suisse AG, London Branch priced $700,000 of 0% accelerated barrier notes due Aug. 12, 2024 linked to the S&P 500 index and the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 121% of the return of the worse-performing index.
If the worse-performing index falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worse-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying indexes: | S&P 500 and S&P MidCap 400
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Amount: | $700,000
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Maturity: | Aug. 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 121% of any gain of worse-performing index; if worse-performing index falls by up to 40%, par; otherwise, full exposure to worse-performing index’s decline
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Initial levels: | 3,351.28 for S&P, 1,938.53 for S&P MidCap
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Knock-in levels: | 2,010.768 for S&P, 1,163.118 for S&P MidCap, 60% of initial level
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Pricing date: | Aug. 7
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Settlement date: | Aug. 12
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22552WET8
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