Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $700,000 absolute return buffered securities on S&P, Nasdaq
Chicago, July 6 – Credit Suisse AG, London Branch priced $700,000 of 0% absolute return buffered securities due July 18, 2025 linked to the lowest performing of the S&P 500 index and the Nasdaq-100 index, 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 1.065 times the gain of the worse performing index.
If each index finishes at or above the 85% buffer level, the payout will be par plus the absolute value of the worse performing index.
Otherwise, investors will receive 1% for each 1% decline of the least performing index beyond the buffer.
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 indexes: | S&P 500 and Nasdaq-100
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Amount: | $700,000
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Maturity: | July 18, 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 return of worse performing index; if each index finishes above buffer level, par plus the absolute value of worse performing index; otherwise, exposure to any losses of worse performing index beyond buffer
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Initial levels: | 3863.16 for S&P and 11983.62 for Nasdaq
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Buffer levels: | 3283.686 for S&P, 10186.077 for Nasdaq; 85% of initial levels
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Pricing date: | July 15, 2022
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Settlement date: | July 20, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22553QDM6
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