Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $795,000 buffered return enhanced notes linked to S&P 500
Chicago, Feb. 22 – Credit Suisse AG, London Branch priced $795,000 of 0% buffered return enhanced notes due May 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, capped at 28.65%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $795,000
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Maturity: | May 8, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, subject to a maximum payout of par plus 28.65%; par if index declines by 20% or less; 1.25% loss for every 1% that index declines beyond 20%
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Initial index level: | 4155.38
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Buffer level: | 3324.304; 80% of initial level
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Strike date: | May 2, 2022
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Pricing date: | May 3, 2022
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Settlement date: | May 6, 2022
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 0%
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Cusip: | 22553PVX4
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