Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.25 million buffered notes tied to S&P 500
Chicago, Feb. 27 – Credit Suisse AG, London Branch priced $4.25 million of 0% buffered notes due May 19, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If index’s final level is greater than or equal to the 69.8% buffer level, the payout will be par plus the fixed return of 5%.
If the index declines by more than 30.2%, investors will lose 1.43266% for every 1% that the index declines beyond 30.2%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered notes
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Underlying index: | S&P 500 index
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Amount: | $4,250,000
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Maturity: | May 19, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index’s final level is greater than or equal to the 69.8% buffer level, par plus 5%; otherwise, 1.43266% loss per 1% drop beyond 30.2%
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Initial index level: | 4175.48
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Buffer level: | 2914.49; 69.8% of initial level
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Strike date: | May 3, 2022
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Pricing date: | May 4, 2022
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Settlement date: | May 9, 2022
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22553PW70
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