Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $824,000 absolute return buffered notes on S&P
Chicago, Aug. 22 – Credit Suisse AG, London Branch priced $824,000 of 0% absolute return buffered securities due Feb. 15, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, capped at par plus 16%.
If the index declines but finishes at or above the 80% buffer level, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1% for each 1% decline of the index beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlying index: | S&P 500 index
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Amount: | $824,000
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Maturity: | Feb. 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 16%; if the index declines but finishes at or above buffer level, par plus the absolute value of index return; otherwise, lose 1% for every 1% drop beyond 20%
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Initial level: | 4207.27
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Buffer level: | 3365.816; 80% of initial level
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Pricing date: | Aug. 11, 2022
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Settlement date: | Aug. 16, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22553QGP6
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