Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.15 million PLUS notes tied to Russell 2000
By William Gullotti
Buffalo, N.Y., July 8 – Credit Suisse AG, London Branch priced $1.15 million of 0% Performance Leveraged Upside Securities due Oct. 4, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum payout of par plus 24%. Investors will be fully exposed to any losses of the index.
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: | Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $1,146,690
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Maturity: | Oct. 4, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of index return up to $12.40 per $10 PLUS; 1% loss for every 1% decline from initial level
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Initial level: | 1,707.99
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Credit Suisse Securities (USA) LLC
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Distributor: | Morgan Stanley Smith Barney LLC
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Fees: | 2.25%
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Cusip: | 22552J799
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