Published on 8/19/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.2 million dual digital barrier notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., Aug. 19 – Credit Suisse AG, London Branch priced $9.2 million of 0% dual digital barrier notes due Aug. 20, 2026 linked to the lowest performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 50%.
If the lower performing index falls by no more than 30%, the payout will be par plus 12%.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index below its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Dual digital barrier notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $9.2 million
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| Maturity: | Aug. 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 50%; if either index falls but neither falls by more than 30%, par plus 12%; otherwise, full exposure to decline of lesser performing index
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| Initial levels: | 2,021.346 for Russell, 4,297.14 for S&P
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| Threshold levels: | 1,414.9422 for Russell, 3,007.998 for S&P; 70% of initial levels
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.6%
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| Cusip: | 22553QE86
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