Published on 8/4/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $535,000 Bares linked to S&P, Dow
By William Gullotti
Buffalo, N.Y., Aug. 4 – Credit Suisse AG, London Branch priced $535,000 of 0% Buffered Accelerated Return Equity Securities due July 3, 2024 linked to the performance of 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 108.76% of the lesser-performing index’s return. Investors will receive par if the lesser-performing index falls by up to 15% and lose 1% for every 1% decline in the lesser-performing index beyond 15%.
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
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Amount: | $535,000
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Maturity: | July 3, 2024
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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 108.76% of the lesser-performing index’s return; par if lesser-performing index falls by up to 15%; otherwise, 1% loss for every 1% decline in lesser-performing index beyond 15%
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Initial levels: | 30,775.43 for Dow, 3,785.38 for S&P
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Buffer levels: | 26,159.1155 for Dow, 3,217.573 for S&P; 85% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22553QB30
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