Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.57 million trigger gears tied to S&P 500
By William Gullotti
Buffalo, N.Y., June 22 – Credit Suisse AG, London Branch priced $2.57 million of 0% trigger gears due June 18, 2032 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.4275 times any index gain.
Investors will receive par if the index declines by 35% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 35%.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $2,573,720
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Maturity: | June 18, 2032
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.4275 times any index gain; par if index declines by 35% or less; otherwise, full exposure to the index’s decline from its initial level
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Initial level: | 3,789.99
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Downside threshold: | 2,463.49; 65% of initial level
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Pricing date: | June 15
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Settlement date: | June 21
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Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 22552J732
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