Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $12.35 million trigger PLUS linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 6 – Credit Suisse AG, London Branch priced $12.35 million of 0% trigger Performance Leveraged Upside Securities due June 5, 2028 linked to the S&P 500 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 1.32 times the index return.
If the index declines but finishes at or above its 80% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Credit Suisse Securities (USA) LLC is the underwriter. Morgan Stanley Smith Barney LLC is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $12,350,440
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Maturity: | June 5, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.32 times any positive index return; if index falls by up to 20%, par; otherwise, 1% loss per 1% decline from initial level
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Initial level: | 4,132.15
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Trigger level: | 3,305.72; 80% of initial level
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Pricing date: | May 31
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Settlement date: | June 5
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Underwriter: | Credit Suisse Securities (USA) LLC
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Distributor: | Morgan Stanley Smith Barney LLC
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Fees: | 3.5%
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Cusip: | 22552J617
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