Published on 12/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.43 million Accelerated Return Equity Securities on stock basket
By Taylor Fox
New York, Dec. 21 – Credit Suisse AG, London Branch priced $1.43 million of Accelerated Return Equity Securities due Jan. 25, 2022 linked to a basket of an equally weighted basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Caterpillar Inc., salesforce.com, inc., Netflix, Inc., Nvidia Corp., Pinterest, Inc., Regeneron Pharmaceuticals, Inc., Ralph Lauren Corp., Shopify Inc., Square Inc. and Vertex Pharmaceuticals Inc.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum return of par plus 25%.
Investors will be fully exposed to any basket decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated Return Equity Securities
|
| Underlying stocks: | Caterpillar Inc., salesforce.com, inc., Netflix, Inc., Nvidia Corp., Pinterest, Inc., Regeneron Pharmaceuticals, Inc., Ralph Lauren Corp., Shopify Inc., Square Inc. and Vertex Pharmaceuticals Inc.; basket equally weighted
|
| Amount: | $1,430,000
|
| Maturity: | Jan. 25, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any gain, capped at par plus 25%; full exposure to losses
|
| Initial levels: | $181.74 for Caterpillar, $220.15 for salesforce, $519.78 for Netflix, $534.42 for Nvidia, $70.71 for Pinterest, $491.79 for Regeneron, $100.53 for Ralph, $1,074.10 for Shopify, $219.99 for Square and $228.81 for Vertex
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.25%
|
| Cusip: | 22552WXX8
|
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