By William Gullotti
Buffalo, N.Y, Nov. 9 – Credit Suisse AG, London Branch priced $5.97 million of 0% trigger jump securities due Aug. 3, 2023 linked to the stock of Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock return is zero or positive, the payout at maturity will be the greater of par plus the stock return and par plus 28%.
The payout will be par if the stock declines by 10% or less. If the stock declines by more than 10%, investors will lose 1% for each 1% decline from the initial level.
Credit Suisse Securities (USA) LLC is the agent, with Morgan Stanley Smith Barney LLC handling distribution.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger jump securities
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Underlying stock: | Kraft Heinz Co.
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Amount: | $5.97 million
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Maturity: | Aug. 3, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the stock return is zero or positive, par plus the greater of par plus the stock return and par plus 28%; if the stock declines by 10% or less, par; otherwise, 1% loss for each 1% decline from the initial level
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Initial level: | $38.98
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Trigger level: | $35.08; 90% of initial level
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Underwriter: | Credit Suisse Securities (USA) LLC
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 2.5%
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Cusip: | 22552Y572
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