Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.16 million absolute return barrier securities on Nasdaq, Dow
By William Gullotti
Buffalo, N.Y., June 30 – Credit Suisse AG, London Branch priced $1.16 million of 0% absolute return barrier securities due June 27, 2025 linked to the lowest performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 150% of the return of the worse performing index, subject to a maximum payout of par plus 62.3%.
If any index declines but each index finishes at or above the 80% barrier level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performer 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 indexes: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,155,000
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| Maturity: | June 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 150% of the return of worse performing index capped at 62.3%; if any index declines but each index finishes at or above barrier level, par plus the absolute value of return of worse performing index; otherwise, full exposure to decline of worst performer from initial level
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| Initial levels: | 12,105.85 for Nasdaq, 31,500.68 for Dow
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| Barrier levels: | 9,684.68 for Nasdaq, 25,200.544 for Dow; 80% 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: | 3.2%
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| Cusip: | 22553Q6X0
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