Published on 1/30/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $627,000 buffered return equity notes on Russell, S&P
By Taylor Fox
New York, Feb. 1 – Credit Suisse AG, London Branch priced $627,000 of 0% buffered return equity securities due March 31, 2022 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index gains or finishes flat, the payout at maturity will be par plus the return of the lesser-performing index, capped at par plus 9.5%.
If either index declines by up to 10% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered return equity securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $627,000
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Maturity: | March 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains or finishes flat, par plus gain of lesser-performing index, capped at par plus 9.5%; par if either index falls by up to 10%; 1% loss for each 1% that lesser-performing index declines beyond 10%
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Initial levels: | 3,735.36 for S&P, 1,996.25 for Russell
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Buffer levels: | 3,361.824 for S&P and 1,796.625 for Russell, 90% of initial levels
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Pricing date: | Dec. 28
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Settlement date: | Dec. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22552WVW2
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