Published on 7/27/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.76 million absolute return barrier securities on S&P, Dow, Russell
By William Gullotti
Buffalo, N.Y., July 27 – Credit Suisse AG, London Branch priced $2.76 million of 0% absolute return barrier securities due July 28, 2025 linked to the lowest performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 the return of the worse performing index.
If any index declines but each index finishes at or above the 65% barrier 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 worst performer from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
|
| Amount: | $2,761,000
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| Maturity: | July 28, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index gains, par plus return of worse performing index; if any index declines but each index finishes at or above barrier level, par plus the absolute value of return of worse performing index; otherwise, full exposure to decline of worst performer from initial level
|
| Initial levels: | 3,961.63 for S&P, 31,899.29 for Dow, 1,806.881 for Russell
|
| Barrier levels: | 2,575.0595 for S&P, 20,734.5385 for Dow, 1,174.47265 for Russell; 65% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.2%
|
| Cusip: | 22553QB55
|
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