Published on 5/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $995,000 accelerated barrier notes on index basket
By Wendy Van Sickle
Columbus, Ohio, May 19 – Credit Suisse AG, London Branch priced $995,000 of 0% accelerated barrier notes due May 19, 2025 linked to a weighted basket containing seven indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 30% weight, the FTSE 100 index with a 17.5% weight, the Nikkei 225 index with a 17.5% weight, the S&P 500 index with a 15% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 125% of the basket return.
If the basket falls by up to 32%, the payout will be par.
Otherwise, investors will be fully exposed to the basket decline.
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 basket: | Euro Stoxx 50 index (30% weight), FTSE 100 index (17.5% weight), Nikkei 225 index with a 17.5% weight, S&P 500 index (15% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index with (5% weight)
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| Amount: | $995,000
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| Maturity: | May 19, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above its initial level, par plus 125% of the basket return; if the basket falls by up to 32%, par; otherwise, investors will be fully exposed to the basket decline
|
| Initial levels: | 2,760.23 for Stoxx, 5,741.54 for FTSE, 19,914.78 for Nikkei, 2,852.5 for S&P 500, 9,448.14 for Swiss Market, 5,328.718 for S&P/ASX, 23,829.74 for Hang Seng
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| Knock-in level: | 68% of initial level
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| Pricing date: | May 14
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| Settlement date: | May 19
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22552W3N3
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