Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.26 million of buffered accelerated return equity notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, June 23 – Credit Suisse AG, London Branch priced $1.26 million of 0% buffered accelerated return equity securities due June 21, 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 asset closes at or above its initial level, the payout at maturity will be par plus 150% the return of the least performing asset up to a maximum gain of 39%.
Investors will receive par if the least performing asset 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 assets: | Dow Jones industrial average and S&P 500 index
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Amount: | $1,256,000
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Maturity: | June 21, 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 asset, up to maximum gain of 39%; investors will receive par if the least performing asset 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: | 29,888.78 for Dow, 3,674.84 for S&P
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Buffer levels: | 26,899.902 for Dow, 3,307.356 for S&P, 90% of initial levels
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Pricing date: | June 17
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Settlement date: | June 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22553PZY8
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