Published on 9/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $600,000 absolute return barrier securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 8 – Credit Suisse AG, London Branch priced $600,000 of 0% absolute return barrier securities due Jan. 30, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 150% of the gain of the worst performing index, up to a maximum of par plus 30%.
If each index finishes at or above the 70% knock-in level, the payout will be par plus the absolute value of the worst performing index.
Otherwise, investors will be fully exposed to the loss of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
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Amount: | $600,000
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Maturity: | Jan. 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 150% of return of worst performing index, up to par plus 30%; if each index finishes above knock-in level, par plus the absolute value of worst performing index; otherwise, full exposure to any losses of worst performing index
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Initial levels: | 1,976.464 for Russell, 4349.93 for S&P, 14,172.76 for Nasdaq
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Knock-in levels: | 1383.5248 for Russell, 3044.951 for S&P, 9,920.932 Nasdaq; 70% of initial levels
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Pricing date: | Jan. 26, 2022
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Settlement date: | Jan. 31, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4%
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Cusip: | 22553PGJ2
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