Published on 9/28/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $23.98 million accelerated return notes linked to basket of financial stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Credit Suisse AG, London branch Bank of Nova Scotia priced $23.64 million of 0% Accelerated Return Notes due Nov. 25, 2022 linked to a stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley, each with a weight of 33.33%.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 25.1%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Credit Suisse AG, London branch
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Issue: | Accelerated Return Notes
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Underlying stocks: | Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley, each with 33.33% weight
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Amount: | $23,978,780
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Maturity: | Nov. 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, up to a maximum return of 25.1%; lose 1% for every 1% of basket decline from initial level
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Initial stock levels: | $391.86 for Goldman Sachs, $161.18 for JPMorgan, $103.55 for Morgan Stanley
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Pricing date: | Sept. 23
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Settlement date: | Sept. 30
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 06417X804
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