Published on 7/20/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.78 million buffered accelerated return equity securities on Russell ETF
By Wendy Van Sickle
Columbus, Ohio, July 20 – Credit Suisse AG, London Branch priced $1.78 million of 0% buffered accelerated return equity securities due July 18, 2024 linked to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above its initial level, the payout at maturity will be par plus double the return of the ETF, capped at 36.5%.
Investors will receive par if the ETF falls by 10% or less and will lose 1% for every 1% that the ETF 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 ETF: | iShares Russell 2000
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Amount: | $1,779,000
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Maturity: | July 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF closes at or above its initial level, the payout at maturity will be par plus two times the return of the ETF, capped at 36.5%; investors will receive par if ETF falls by 10% or less and will lose 1% for every 1% that the ETF declines beyond 10%
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Initial level: | $173.09
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Buffer level: | $155.781; 90% of initial level
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Pricing date: | July 15
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Settlement date: | July 20
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 22553QE45
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