Published on 1/6/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.26 million PLUS linked to weighted basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Credit Suisse AG, London Branch priced $9.26 million of 0% Performance Leveraged Upside Securities due July 6, 2020 linked to a basket of indexes and exchange-traded funds, according to a 424B2 with the Securities and Exchange Commission.
The basket consists of the S&P 500 Value index with a 25% weight, the VanEck Vectors Gold Miners ETF with a 15% weight, the Euro Stoxx Banks index with a 15% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the SPDR S&P Oil & Gas Exploration & Production ETF with a 10% weight, the Materials Select Sector SPDR fund with a 10% weight and the Tokyo Stock Price index with a 10% weight.
The payout at maturity will be par of $10 plus double any basket gain, up to a maximum payment of $10.79 per PLUS.
Investors will be exposed to any losses.
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: | Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 Value index (25% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx Banks index (15% weight), iShares MSCI Emerging Markets ETF (15% weight), SPDR S&P Oil & Gas Exploration & Production ETF (10% weight), Materials Select Sector SPDR fund (10% weight) and Tokyo Stock Price index (10% weight)
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| Amount: | $9,255,000
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| Maturity: | July 6, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus double any basket gain, up to a maximum payment of $10.79 per PLUS; full exposure to losses
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| Initial levels: | 1,281.17 for S&P Value, $29.49 for Gold Miners, 96.78 for Stoxx Banks, $44.77 for Emerging Markets, $23.36 for Oil & Gas, 60.97 for Materials, 1,721.36 for Tokyo Stock
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 3
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| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC handling distribution
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| Fees: | 1.75%
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| Cusip: | 22550K780
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