Published on 7/11/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.1 million leveraged buffered basket linked notes
By Wendy Van Sickle
Columbus, Ohio, July 11 – Credit Suisse AG, London Branch priced $1.1 million of 0% leveraged buffered notes due July 12, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with a 9% weight.
The payout at maturity will be par plus 1.8 times the basket gain up with a maximum payout of par plus 51.84%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Leveraged buffered basket-linked notes
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Underlying assets: | Euro Stoxx 50 index (36%), Topix index (26%), FTSE 100 index (17%), Swiss Market index (12%), S&P/ASX 200 index (9%)
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Amount: | $1.1 million
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Maturity: | July 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 1.8 times basket gain, up to par plus 51.84%; par if basket finishes flat or declines by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial levels: | 3,421.84 for Stoxx, 1,855.97 for Topix, 7,107.77 for FTSE, 10,840.6 for Swiss, 6,594.484 for S&P/ASX 200
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Buffer level: | 85% of initial level
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Pricing date: | July 6
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Settlement date: | July 13
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22553QB71
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