Published on 7/20/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.56 million buffered accelerated return equity securities on S&P
By Wendy Van Sickle
Columbus, Ohio, July 20 – Credit Suisse AG, London Branch priced $3.56 million of 0% buffered accelerated return equity securities due July 18, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level, the payout at maturity will be par plus double the return of the index, capped at 32.5%.
Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered accelerated return equity securities
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Underlying index: | S&P 500
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Amount: | $3,559,000
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Maturity: | July 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes at or above its initial level, the payout at maturity will be par plus two times the return of the index, capped at 32.5%; investors will receive par if index falls by 10% or less and will lose 1% for every 1% that the index declines beyond 10%
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Initial level: | 3,863.16
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Buffer level: | 3,476.844; 90% of initial level
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Pricing date: | July 15
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Settlement date: | July 20
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.45%
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Cusip: | 22553QE37
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