Published on 8/4/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $11.05 million absolute return buffered securities on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – Credit Suisse AG, London Branch priced $11.05 million of 0% absolute return buffered securities due Feb. 3, 2025 linked to the lowest performing of the Nasdaq-100 index 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 the return of the worse performing index, capped at par plus 55%.
If the worst performer declines but 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 and InspereX LLC are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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Amount: | $11,051,000
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Maturity: | Feb. 3, 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 return of worse performing index, capped at par plus 55%; if worst performer declines but 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: | 12,947.97 for Nasdaq, 1,885.23 for Russell
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Buffer levels: | 10,358.376 for Nasdaq, 1,508.184 for Russell; 80% of initial levels
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agents: | Credit Suisse Securities (USA) LLC and InspereX LLC
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Fees: | 1%
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Cusip: | 22553QC47
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