Published on 11/18/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.13 million PLUS notes tied to S&P 500
By Kiku Steinfeld
Chicago, Nov. 18 – Credit Suisse AG, London Branch priced $4.13 million of 0% Performance Leveraged Upside Securities due Feb. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, up to $11.46 per $10 PLUS. Investors will be fully exposed to any losses of the index.
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 index: | S&P 500
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Amount: | $4,127,530
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Maturity: | Feb. 3, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of index return up to $11.46 per $10 PLUS; 1% loss for every 1% decline from initial level
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Initial level: | 3,269.96
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agent: | Credit Suisse Securities (USA) LLC
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Distributor: | Morgan Stanley Smith Barney LLC
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Fees: | 2.25%
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Cusip: | 22550X675
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