Published on 1/7/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.46 million buffered digital notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., Jan. 7 – Credit Suisse AG, London Branch priced $3.46 million of 0% buffered digital notes due Feb. 7, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If index’s final level is greater than or equal to the 90% buffer level, the payout will be par plus the fixed return of 6.82%.
If the index declines by more than 10%, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered digital notes
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Underlying index: | S&P 500 index
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Amount: | $3,455,000
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Maturity: | Feb. 7, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index’s final level is greater than or equal to the 90% buffer level, par plus 6.82%; otherwise, 1.1111% loss per 1% drop beyond 10%
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Initial index level: | 4,796.56
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Buffer level: | 90% of initial level
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Pricing date: | Jan. 3
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Settlement date: | Jan. 10
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.09%
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Cusip: | 22553PCU1
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