Published on 4/20/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million absolute return buffered notes on EAFE, EM ETFs
By Wendy Van Sickle
Columbus, Ohio, April 20 – Credit Suisse AG, London Branch priced $1 million of 0% absolute return buffered securities due April 2, 2024 linked to the worse performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its initial level, the payout at maturity will be par plus the return of the lesser performing underlying up to 45%.
If the lesser performing underlying falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing underlying.
If the lesser performing underlying falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing underlying beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return buffered securities
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Underlyings: | iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF
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Amount: | $1 million
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Maturity: | April 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlying finishes at or above its initial level, par plus return of the lesser performing underlying up to 45%; if the lesser performing underlying falls by up to 20%, par plus the absolute value of the return of the lesser performing underlying; otherwise, 1% loss for every 1% decline of the lesser performing underlying beyond 20%
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Initial levels: | $75.87 for EAFE, $53.34 for EM
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Buffer levels: | $60.696 for EAFE, $42.6782 for EM, 80%
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.75%
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Cusip: | 22552XHA4
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