Published on 5/12/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.35 million knock-out notes tied to S&P 500
Chicago, May 12 – Credit Suisse AG, London Branch priced $1.35 million of knock-out notes due Oct. 20, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than 71% of the initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus 5%.
If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500
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Amount: | $1,350,000
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Maturity: | Oct. 20, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is at least 71% of initial index level, par plus 5%; otherwise, 1% loss for every 1% that the final index level is less than initial index level
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Initial index level: | 4300.46
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Knock-out level: | 3053.33; 71% of initial level
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Strike date: | Oct. 4, 2021
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Pricing date: | Oct. 5, 2021
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Settlement date: | Oct. 8, 2021
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22552XXY4
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