Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.29 million dual directional buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 17 – Credit Suisse AG, London Branch priced $2.29 million of 0% dual directional buffered notes due June 13, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the gain of the index, capped at par plus 22.2%.
If the index falls by up to 20%, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1.25% for each 1% loss of the index beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Dual directional buffered notes
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Underlying index: | S&P 500 index
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Amount: | $2,285,000
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Maturity: | June 13, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes above the initial level, par plus the gain of the index, capped at par plus 22.2%; if the index falls by up to 20%, par plus absolute value of the return of the index; otherwise, 1.25% loss for each 1% loss of the index beyond the buffer
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Initial index level: | 3,900.86
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Buffer level: | 3,120.69; 80% of initial level
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Pricing date: | June 10
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Settlement date: | June 15
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Agent: | Credit Suisse Securities (USA) LLC
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.5%
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Cusip: | 22553Q4R5
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