Published on 11/24/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $496,000 buffered accelerated return notes on Stoxx, EAFE ETF
By Kiku Steinfeld
Chicago, Nov. 28 – Credit Suisse AG, London Branch priced $496,000 of 0% buffered accelerated return equity securities due March 27, 2025 linked to the lowest performing of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier closes at or above its initial level, the payout at maturity will be par plus 2.1 times the return of the lesser performing underlier.
Investors will receive par if either underlier falls by 10% or less and will lose 1% for every 1% that the lesser-performing asset declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Buffered accelerated return equity securities
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Underlying assets: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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Amount: | $496,000
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Maturity: | March 27, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlier closes at or above initial level, par plus 2.1 times return of lesser-performing underlier; par if each asset declines by 10% or less; 1% loss for every 1% that lesser-performing asset declines beyond 10%
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Initial levels: | $73.04 for EAFE and 3869.22 for Stoxx
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Buffer levels: | $65.736 for EAFE and 3482.298 for Stoxx; 90% of initial levels
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Pricing date: | March 23, 2022
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Settlement date: | March 28, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.2%
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Cusip: | 22553PP86
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