Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million knock-out notes tied to Dow
Chicago, Sept. 26 – Credit Suisse AG, London Branch priced $1 million of knock-out notes due Feb. 7, 2024 linked to the Dow Jones industrial average, 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 70% of the initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus 10.9%.
If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | Dow Jones industrial average
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Amount: | $1,000,000
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Maturity: | Feb. 7, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is at least 70% of initial index level, par plus 10.9%; otherwise, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 35405.24
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Knock-out level: | 24783.67, 70% of initial level
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Strike date: | Feb. 1
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Pricing date: | Feb. 2
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Settlement date: | Feb. 7
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.5%
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Cusip: | 22553PHS1
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