Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.51 million Bares linked to S&P, Dow, Nasdaq
By William Gullotti
Buffalo, N.Y., June 23 – Credit Suisse AG, London Branch priced $3.51 million of 0% Buffered Accelerated Return Equity Securities due June 18, 2027 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s return is positive, the payout at maturity will be par plus 144% of the lesser-performing index’s return. Investors will receive par if the lesser-performing index falls by up to 20% and lose 1% for every 1% decline in the lesser-performing index beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered Accelerated Return Equity Securities
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Underlying indexes: | Dow Jones industrial average, S&P 500 index, Nasdaq-100 index
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Amount: | $3,511,000
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Maturity: | June 18, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 144% of the lesser-performing index’s return; par if lesser-performing index falls by up to 20%; otherwise, 1% loss for every 1% decline in lesser-performing index beyond 20%
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Initial levels: | 30,668.53 for Dow, 3,789.99 for S&P, 11,593.77 for Nasdaq
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Buffer levels: | 24,534.824 for Dow, 3,031.992 for S&P, 9,275.016 for Nasdaq; 80% of initial levels
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Strike date: | June 15
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Pricing date: | June 16
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Settlement date: | June 21
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.75%
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Cusip: | 22553Q5W3
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