Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.13 million absolute return buffered securities on three indexes
By William Gullotti
Buffalo, N.Y., June 2 – Credit Suisse AG, London Branch priced $1.13 million of 0% absolute return buffered securities due May 30, 2025 linked to the lowest performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 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 115% of the return of the worse performing index.
If each index finishes at or above the 80% buffer level, the payout will be par plus the absolute value of the return of the worse performing index. Otherwise, investors will lose 1% for each 1% decline of the least performing index beyond the 20% 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: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $1.13 million
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| Maturity: | May 30, 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 115% of the return of worse performing index; if each index finishes at or above buffer level, par plus the absolute value of return of worse performing index; otherwise, exposure to any losses of worse performing index beyond 20%
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| Initial levels: | 32,120.28 for Dow, 1,799.164 for Russell, 3,978.73 for S&P
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| Buffer levels: | 25,696.224 for Dow, 1,439.3312 for Russell, 3,182.984 for S&P; 80% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22553PXM6
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