Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $361,000 Bares linked to S&P
By Angela McDaniels
Tacoma, Wash., April 24 – Credit Suisse AG, London Branch priced $361,000 of Buffered Accelerated Return Equity Securities due June 3, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 175% of the index return, subject to a maximum return of 62%. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
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 index
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Amount: | $361,000
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Maturity: | June 3, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 175% of index return, subject to maximum return of 62%; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial level: | 4,132.15
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Buffer level: | 3,305.72, or 80% of initial level
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Pricing date: | May 31, 2022
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Settlement date: | June 3, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22553PWE5
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