Published on 7/5/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $11.11 million trigger step securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $11.11 million of 0% trigger step securities due June 30, 2027 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes at or above initial level, the payout at maturity will be par of $10 plus the greater of the index’s return and 51%.
Investors will receive par if the index falls by up to 25%. Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger step securities
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Underlying index: | S&P 500 index
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Amount: | $11,107,200
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Maturity: | June 30, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above initial level, par plus the greater of the index’s return and 51%; par if the index falls by up to 25%; otherwise, full exposure to the index’s decline from its initial level
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Initial index level: | 3,900.11
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Downside threshold: | 2,925.08; 75% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Distributor: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 22552K127
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