Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $501,000 absolute return buffered notes on Russell
Chicago, July 5 – Credit Suisse AG, London Branch priced $501,000 of 0% absolute return buffered securities due Oct. 12, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the return of the index up to 26.1%.
If the index falls by up to 10%, the payout will be par plus the absolute value of the return of the index.
If the index falls by more than 10%, investors will lose 1% for every 1% decline of the index beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlying index: | Russell 2000 index
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Amount: | $501,000
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Maturity: | Oct. 12, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial level, par the return of the index up to 26.1%; if the index falls by up to 10%, par plus the absolute value of the return of the index; otherwise, 1% loss for every 1% decline of the index beyond 10%
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Initial level: | 1769.604
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Buffer level: | 1592.6436, 90% of initial level
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Pricing date: | July 7, 2022
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Settlement date: | July 12, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 22553QAJ6
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