Published on 1/19/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5 million absolute return barrier securities on Stoxx 50
By William Gullotti
Buffalo, N.Y., Jan. 19 – Credit Suisse AG, London Branch priced $5 million of 0% absolute return barrier securities due Jan. 16, 2025 linked to the performance of the Euro Stoxx 50 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 130% of the gain capped at 36.2%.
If the index declines but finishes at or above the 75% 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: | Euro Stoxx 50 index
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Amount: | $5 million
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Maturity: | Jan. 16, 2025
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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 130% of return, subject to a maximum payout of par plus 36.2%; 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: | 4,315.9
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Barrier level: | 3,236.925; 75% of initial levels
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22553PF53
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