Published on 10/29/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.67 million trigger absolute return step notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Credit Suisse AG, London Branch priced $3.67 million of 0% trigger absolute return step securities due Oct. 30, 2026 linked to the performance of the S&P 500 index and the Russell 2000 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 the greater of par plus 22.75% and par plus the return of the lesser-performing index.
If any index declines but each finish at or above the downside threshold level, 75% of the initial index level, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger absolute return step securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $3,674,520
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| Maturity: | Oct. 30, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above initial level, the greater of par plus 22.75% and par plus the return of the lesser-performing index; if any index declines but each finishes at or above downside threshold, par plus the absolute value of the return of the worst performer; otherwise, 1% loss for every 1% decline of worst performer from initial level
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| Initial levels: | 4,574.79 for S&P, 2,296.075 for Russell
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| Downside thresholds: | 3,431.09 for S&P, 1,722.056 for Russell; 75% of initial index level
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Agents: | UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 22551G366
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