Published on 4/26/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.32 million leveraged basket linked notes
By Wendy Van Sickle
Columbus, Ohio, April 26 – Credit Suisse AG, London Branch priced $1.32 million of 0% leveraged notes due Nov. 20, 2023 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with a 8% weight.
If the basket gains or finishes flat, the payout at maturity will be par plus triple the basket gain up with a maximum payout of par plus 39%.
Investors will be fully exposed to any basket decline.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Leveraged basket-linked notes
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Underlying assets: | Euro Stoxx 50 index (36%), Topix index (29%), FTSE 100 index (16%), Swiss Market index (11%), S&P/ASX 200 index (8%)
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Amount: | $1,319,000
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Maturity: | Nov. 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus three times basket gain, up to par plus 39%; otherwise, 1% loss for every 1% decline from initial level
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Initial levels: | 3,928.03 for Stoxx, 1,928.0 for Topix, 7,627.95 for FTSE, 12,301.33 for Swiss, 7,592.89 for S&P/ASX 200
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Pricing date: | April 21
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Settlement date: | April 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22553PT74
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