Published on 5/1/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.35 million trigger step securities on S&P 500, Russell 2000
By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $4.35 million of 0% trigger step securities due April 20, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the laggard index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the laggard index’s return and 34.5%.
Investors will receive par if the laggard index falls by up to 25% and will be fully exposed to all losses if the laggard index finishes below the 75% downside threshold level.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger step securities
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $4,347,010
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Maturity: | April 20, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the laggard index finishes at or above the initial level, par plus the greater of the laggard index’s return and 34.5%; par if the laggard index falls by up to 25%; full exposure to losses if the laggard index finishes below the 75% downside threshold level
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Initial index levels: | 4,170.42 for S&P, 2,257.068 for Russell
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Downside thresholds: | 3,127.82 for S&P, 1,692.801 for Russell; 75% of initial levels
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Pricing date: | April 15
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Settlement date: | April 20
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Distributor: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 22551F780
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