Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $937,000 absolute return buffered notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 2 – Credit Suisse AG, London Branch priced $937,000 of 0% absolute return buffered securities due Oct. 3, 2024 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the laggard index’s final level is greater than its initial level, the payout at maturity will be par plus the lesser of the laggard index’s return and 28%.
If the laggard index’s final level is less than its initial level by up to 15%, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will be exposed to the laggard index’s decline beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Absolute return buffered securities
|
Underlying indexes: | Nasdaq-100 and Russell 2000
|
Amount: | $937,000
|
Maturity: | Oct. 3, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If laggard index’s final level is greater than initial level, par plus lesser of laggard index return and 28%; if laggard index’s final level is less than initial level by up to 15%, par plus absolute value of that return; otherwise, exposure to laggard index’s decline beyond 15%
|
Initial index levels: | 14,987.40 for Nasdaq, 2,078.06 for Russell
|
Buffer levels: | 12,739.29 for Nasdaq, 1,766.351 for Russell, 85% of initial levels
|
Pricing date: | March 28
|
Settlement date: | March 31
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 3%
|
Cusip: | 22553PM89
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.