Published on 9/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million buffered return equity securities on weighted basket
By Wendy Van Sickle
Columbus, Ohio, Sept. 16 – Credit Suisse AG, London Branch priced $1.5 million of 0% buffered return equity securities due Sept. 18, 2025 linked to an equally weighted basket of five baskets, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of Airbnb, Inc., CrowdStrike Holdings, Inc., Nvidia Corp., Snowflake Inc. and Tesla, Inc., each with a 20% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus the return of the basket with the gain capped at 10%.
Investors will receive par if the basket finishes at or above the 75% buffer level. Otherwise, investors will lose 1% for every 1% decline of the basket beyond 25%.
InspereX LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered return equity securities
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| Underlying indexes: | Airbnb, Inc., CrowdStrike Holdings, Inc., Nvidia Corp., Snowflake Inc. and Tesla, Inc., each with 20% weights
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| Amount: | $1.5 million
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| Maturity: | Sept. 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above initial levels, par plus the gain of the basket with a maximum gain of 10%; if the basket declines but finishes at or above the 75% buffer, par; otherwise, investors will lose 1% for every 1% decline of the basket beyond 25%
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| Initial levels: | $121.54 for Airbnb, $184.70 for CrowdStrike, $131.31 for Nvidia, $187.43 for Snowflake and $292.13 for Tesla
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| Buffer level: | 75% of initial level
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 16
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| Underwriters: | InspereX LLC
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| Fees: | 0.5%
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| Cusip: | 22553QL62
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