Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $476,000 of buffered accelerated return equity notes on S&P, Dow
Chicago, May 12 – Credit Suisse AG, London Branch priced $476,000 of 0% buffered accelerated return equity securities due Dec. 20, 2024 linked to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level, the payout at maturity will be par plus 150% the return of the least performing index, capped at par plus 39%.
Investors will receive par if the least performing index falls by 10% or less and will lose 1% for every 1% that the worst performer 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 indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $476,000
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Maturity: | Dec. 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of gain of the least performing index, capped at par plus 39%; investors will receive par if the least performing index falls by 10% or less and will lose 1% for every 1% that the worst performer declines beyond 10%
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Initial levels: | 29888.78 for Dow, 3674.84 for S&P
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Buffer levels: | 26899.902 for Dow, 3307.356 for S&P, 90% of initial levels
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Pricing date: | June 17, 2022
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Settlement date: | June 23, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.9%
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Cusip: | 22553PZX0
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