Published on 6/10/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $7.85 million knock-out notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 10 – Credit Suisse AG, London Branch priced $7.85 million of knock-out notes due June 14, 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 80% of the initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus 10.71%.
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: | S&P 500
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Amount: | $7,853,000
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Maturity: | June 14, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes flat or declines up to 20%, par plus 10.71%; otherwise, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 4,158.24
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Knock-out level: | 3,326.59, 80% of initial level
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Pricing date: | May 27
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Settlement date: | June 2
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 22553PZ51
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