Published on 7/13/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.38 million buffered PLUS tied to S&P 500
By William Gullotti
Buffalo, N.Y., July 13 – Credit Suisse AG, London Branch priced $4.38 million of 0% buffered Performance Leveraged Upside Securities due July 6, 2026 linked to the S&P 500 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 plus 120% of the index return, up to $16.30 per $10 PLUS.
Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $4,384,100
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Maturity: | July 6, 2026
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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 positive, the payout at maturity will be par plus 120% of the index return, capped at par plus 63%; investors will receive par if the index declines by 20% or less; otherwise, 1% loss for every 1% decline beyond 20%.
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Initial level: | 3,785.38
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Buffer level: | 3,028.3; 80% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agents: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
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Fees: | 3%
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Cusip: | 22552J781
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