Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.2 million digital plus absolute return barrier notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 6 – Credit Suisse AG, London Branch priced $1.2 million of 0% digital plus absolute return barrier notes due April 5, 2027 linked to the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each asset is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and the digital return of 64%.
If the final level of the lesser-performing asset is less than the initial level but greater than or equal to the barrier level, 60% of the initial level, the payout will be par plus the absolute value of the lesser-performing asset return.
If the final level of the lesser-performing asset is less than the barrier level, the payout will be par minus 1% for every 1% that the lesser-performing asset declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Dual directional notes
|
| Underlying assets: | Euro Stoxx 50, iShares MSCI Emerging Markets ETF
|
| Amount: | $1,199,000
|
| Maturity: | April 5, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of the lesser-performing asset is greater than or equal to initial level, par plus greater of the lesser-performing asset return and digital return of 64%; if final level of the lesser-performing asset is less than initial level but greater than or equal to barrier level, par plus absolute value of lesser-performing asset return; if final level of the lesser-performing asset is less than barrier level, 1% loss for every 1% decline of lesser-performing asset
|
| Initial level: | 3,902.52 for index, $45.15 for ETF
|
| Barrier level: | 2,341.512 for index, $27.09 for ETF, 60% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 22553PQK8
|
|
|
© 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.
