Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.82 million absolute return barrier securities on Stoxx 50
By William Gullotti
Buffalo, N.Y., June 30 – Credit Suisse AG, London Branch priced $1.82 million of 0% absolute return barrier securities due Dec. 29, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the gain capped at 17.5%.
If the index declines but finishes at or above the 70% barrier level, the payout will be par plus the absolute value of the return. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying index: | S&P 500 index
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Amount: | $1,815,000
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Maturity: | Dec. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains, par plus the return, subject to a maximum payout of par plus 17.5%; if the index declines but finishes at or above barrier level, par plus the absolute value of the return; otherwise, full exposure to decline
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Initial level: | 3,911.74
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Barrier level: | 2,738.218; 70% of initial levels
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Pricing date: | June 24
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Settlement date: | June 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.65%
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Cusip: | 22553QA98
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