Published on 10/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $700,000 knock-out notes linked to S&P 500
By Kiku Steinfeld
Chicago, Oct. 17 – Credit Suisse AG, London Branch priced $700,000 of 0% knock-out notes due March 7, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the knock-out level, 80% of the initial index level.
If a knock-out event has not occurred, the payout at maturity will be par plus 8.05%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is below the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Knock-out notes
|
Underlying index: | S&P 500
|
Amount: | $700,000
|
Maturity: | March 7, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 8.05% unless final index level is less than knock-out level, in which case 1% loss for every 1% that final index level is below initial index level
|
Initial level: | 4380.26
|
Final level: | Average of index’s closing levels on five trading days ending March 2, 2023
|
Knock-out level: | 3504.21, 80% of initial index level
|
Pricing date: | Feb. 17, 2022
|
Settlement date: | Feb. 24, 2022
|
Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 1%
|
Cusip: | 22553PKU2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.