Published on 3/7/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million of market-linked securities on three indexes
By William Gullotti
Buffalo, N.Y., March 7 – Credit Suisse AG priced $2 million of market-linked securities – contingent fixed return and contingent downside due April 3, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 8% coupon unless any index finishes below the 70% threshold, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Wells Fargo Securities LLC is the agent.
Issuer: | Credit Suisse AG
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Issue: | Market-linked securities – contingent fixed return and contingent downside
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $2 million
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Maturity: | April 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8% unless any index falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing index
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Initial levels: | 4373.94 for S&P, 2048.089 for Russell, 14237.81 for Nasdaq
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Threshold levels: | 3061.758 for S&P, 1433.6623 for Russell, 9966.467 for Nasdaq; 70% of initial levels
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Underwriter: | Wells Fargo Securities LLC
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Fees: | 1.775%
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Cusip: | 22553PLD9
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