Published on 11/2/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $230,000 buffered return equity notes on Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 2 – Credit Suisse AG, London Branch priced $230,000 of 0% buffered return equity securities due Feb. 28, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index gains or finishes flat, the payout at maturity will be par plus the return of the lesser-performing index up to 33.5%.
If either index declines by up to 10% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered return equity securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $230,000
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Maturity: | Feb. 28, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains or finishes flat, par plus gain of lesser-performing index up to 33.5%; par if either index falls by up to 10%; 1% loss for each 1% that lesser-performing index declines beyond 10%
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Initial levels: | 4225.50 for S&P, 1944.092 for Russell
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Buffer levels: | 3802.95 for S&P and 1749.6828 for Russell, 90% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.8%
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Cusip: | 22553PHJ1
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