Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $11.23 million trigger jump securities on S&P
By Wendy Van Sickle
Columbus, Ohio, June 14 – Credit Suisse AG, London Branch priced $11.23 million of 0% trigger jump securities due June 10, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be the greater of par plus the index return and par plus 37%.
The payout will be par if the index declines by 20% or less. If the index declines by more than 20%, investors will lose 1% for each 1% decline from the initial level.
Credit Suisse Securities (USA) LLC is the agent, with Morgan Stanley Smith Barney LLC handling distribution.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger jump securities
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Underlying index: | S&P 500 index
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Amount: | $11,231,200
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Maturity: | June 10, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is zero or positive, the greater of par plus the index return and par plus 37%; if the index declines by 20% or less, par; otherwise, 1% loss for each 1% decline from the initial level
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Initial level: | 4,160.68
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Trigger level: | 3,328.54; 80% of initial level
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Pricing date: | June 7
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Settlement date: | June 10
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Underwriter: | Credit Suisse Securities (USA) LLC
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 3.5%
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Cusip: | 22552J740
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