Published on 9/14/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $250,000 Bares linked to three SPDR funds
By Angela McDaniels
Tacoma, Wash., Sept. 14 – Credit Suisse AG, London Branch priced $250,000 of 0% buffered accelerated return equity securities due Sept. 11, 2023 linked to the Consumer Staples Select Sector SPDR fund, the Utilities Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing ETF finishes at or above its initial level, the payout at maturity will be par plus 200% of that ETF’s return, subject to a maximum return of 30%. If the least performing ETF declines by 10% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing ETF declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Buffered accelerated return equity securities
|
| Underlying ETFs: | Consumer Staples Select Sector SPDR fund, Utilities Select Sector SPDR fund and Health Care Select Sector SPDR fund
|
| Amount: | $250,000
|
| Maturity: | Sept. 11, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least performing ETF finishes at or above initial level, par plus 200% of that ETF’s return, subject to maximum return of 30%; if least performing ETF declines by 10% or less, par; otherwise, 1% loss for every 1% that least performing ETF declines beyond 10%
|
| Initial share prices: | $72.56 for consumer staples, $74.60 for utilities and $124.99 for health care
|
| Buffer levels: | $65.304 for consumer staples, $67.14 for utilities and $112.491 for health care, or 90% of initial share prices
|
| Pricing date: | Sept. 2, 2022
|
| Settlement date: | Sept. 8, 2022
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22553QHY6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
