Published on 2/9/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $9.94 million dual directional trigger PLUS on Russell
Chicago, Feb. 9 – Credit Suisse AG, London Branch priced $9.94 million of 0% dual directional trigger Performance Leveraged Upside Securities due Aug. 3, 2023 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 200% of the gain, subject to a maximum payout of par plus 20.45%.
If the index falls by up to 10%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Dual directional trigger Performance Leveraged Upside Securities
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Underlying index: | Russell 2000 index
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Amount: | $9,936,000
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Maturity: | Aug. 3, 2023
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Coupon: | 0%
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Price: | Par or $10
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Payout at maturity: | If index gains, par plus 200% of the return, capped at par plus 20.45%; if index falls by up to 10%, par plus absolute return; otherwise, 1% loss per 1% decline from initial level
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Initial level: | 1,864.103
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Trigger level: | 1,677.693; 90% of initial level
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
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Fees: | 2.25%
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Cusip: | 22552J518
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