Published on 1/14/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.97 million absolute return buffered notes on indexes, ETF
By Kiku Steinfeld
Chicago, Jan. 14 – Credit Suisse AG, London Branch priced $3.97 million of 0% absolute return buffered securities due Dec. 20, 2024 linked to the lowest performing of the S&P MidCap 400 index, the iShares Russell 2000 Value ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each asset finishes at or above the initial level, the payout at maturity will be par plus 115% of the return of the worse performing asset.
If each asset finishes at or above the 90% buffer level, the payout will be par plus the absolute value of the return of the worse performing asset.
Otherwise, investors will lose 1% for each 1% decline of the least performing asset beyond the 10% buffer.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Absolute return buffered securities
|
Underliers: | iShares Russell 2000 Value ETF, S&P MidCap 400 and Russell 2000
|
Amount: | $3,974,000
|
Maturity: | Dec. 20, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each asset gains, par plus 115% of return of worse performing asset; if each asset finishes at or above buffer level, par plus the absolute value of return of worse performing asset; otherwise, exposure to any losses of worse performing asset beyond buffer
|
Initial levels: | 2,728.08 for S&P, 2,173.931 for Russell, $159.98 for ETF
|
Buffer levels: | 2,455.272 for S&P and 1,956.5379 for Russell, $143.982 for ETF; 90% of initial levels
|
Pricing date: | Dec. 17
|
Settlement date: | Dec. 22
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.75%
|
Cusip: | 22553PCJ6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.