Published on 10/16/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $301,455 call warrants linked to 11 stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – Credit Suisse AG, London Branch priced $301,455 of call warrants expiring Oct. 24, 2018 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the common stock of United Rentals Inc., Southwest Airlines Co., Home Depot, Inc., Walt Disney Co., Costco Wholesale Corp., AT&T Inc., Comerica Inc., Starbucks Corp., Bank of America Corp., Honeywell International Inc. and Pioneer Natural Resources Co.
The 3,654 warrants have a notional amount of $1,000 each, or $3.65 million in total, and sold for $82.50 each, or 8.25% of the notional amount. The minimum purchase requirement is 122 warrants.
The warrants will be automatically exercised on the expiration date. If the final basket level is greater than the initial basket level, the cash settlement amount per warrant will be $1,000 multiplied by the basket return. If the final basket level is less than or equal to basket level, the cash settlement amount will be zero.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Call warrants
|
| Underlying stocks: | United Rentals Inc., Southwest Airlines Co., Home Depot, Inc., Walt Disney Co., Costco Wholesale Corp., AT&T Inc., Comerica Inc., Starbucks Corp., Bank of America Corp., Honeywell International Inc. and Pioneer Natural Resources Co., equally weighted
|
| Warrants: | 3,654
|
| Notional amount: | $1,000 each, or $3,654,000 total
|
| Price: | $82.50 each, or $301,455 total
|
| Expiration date: | Oct. 24, 2018
|
| Payout: | If final basket level is greater than initial basket level, $1,000 multiplied by basket return; if final basket level is less than or equal to basket level, zero
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 12
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | $3.30 per warrant
|
| Cusip: | 22547V121
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
