Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.13 million absolute return buffered notes on S&P, Russell, Dow
By William Gullotti
Buffalo, N.Y., June 14 – Credit Suisse AG, London Branch priced $2.13 million of 0% absolute return buffered securities due June 12, 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 1.14 times 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 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| 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: | $2,129,000
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| Maturity: | June 12, 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 1.14 times 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%
|
| Initial levels: | 4,160.68 for S&P, 33,180.14 for Dow, 1,919.563 for Russell
|
| Buffer levels: | 3,328.544 for S&P, 26,544.112 for Dow, 1,535.6504 for Russell; 80% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 10
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.2%
|
| Cusip: | 22553PZQ5
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