Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million CS notes linked to equally-weighted index basket
By William Gullotti
Buffalo, N.Y., May 19 – Credit Suisse AG, London Branch priced $1 million of 0% CS notes due May 17, 2029 linked to an equally-weighted index basket, according to a 424B2 filing with the Securities and Exchange.
The basket consists of the Euro Stoxx 50 index, the Nikkei 225 index and the S&P 500 index.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 1.58 times the return.
Otherwise, investors will lose 1% for every 1% of basket decline to a minimum payout of 90% of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | CS notes
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Underlying indexes: | Euro Stoxx 50 index, Nikkei 225 index, S&P 500 index; equal weights
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Amount: | $1 million
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Maturity: | May 17, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket finishes at or above initial level, par plus 1.58 times the basket return; otherwise, 1% loss for every 1% of basket decline to a minimum payment of 90% of par
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Initial levels: | 3,613.43 for Stoxx, 25,748.72 for Nikkei, 3,930.08 for S&P
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Strike date: | May 12
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22553PXR5
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