Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.98 million trigger gears on index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – Credit Suisse AG, London Branch priced $4.98 million of 0% trigger gears due July 31, 2026 linked to an unequally-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 40% weight, the FTSE 100 index with a 17.5% weight, the Nikkei 225 index with a 25% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.8185 times the basket return.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (17.5% weight), Nikkei 225 index (25% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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| Amount: | $4,976,200
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| Maturity: | July 31, 2026
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 1.8185 times any basket gain; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
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| Initial levels: | 4,103.03 for Stoxx, 7,016.63 for FTSE, 27,581.66 for Nikkei, 12,073.23 for Swiss, 7,379.287 for S&P/ASX
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| Barrier level: | 75% of initial level
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| Pricing date: | July 29
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| Settlement date: | July 30
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| Underwriter: | Credit Suisse Securities (USA) LLC, UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 22552Y515
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