Published on 8/3/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $970,000 buffered accelerated return equity securities on ETF basket
By William Gullotti
Buffalo, N.Y., Aug. 3 – Credit Suisse AG, London Branch priced $970,000 of 0% buffered accelerated return equity securities due Feb. 9, 2023 linked to a weighted basket of ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the iShares MSCI Emerging Markets ETF with a 43% weight, the iShares MSCI EAFE ETF with a 48% weight and the iShares MSCI EAFE Small-Cap ETF with a 9% weight.
If the basket closes at or above its initial level, the payout at maturity will be par plus 1.25 times the return of the basket, capped at par plus 14%.
Investors will receive par if the basket falls by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Buffered accelerated return equity securities
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| Underlying basket: | iShares MSCI Emerging Markets ETF (43% weight), iShares MSCI EAFE ETF (48% weight) and iShares MSCI EAFE Small-Cap ETF (9% weight)
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| Amount: | $970,000
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| Maturity: | Feb. 9, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket closes at or above its initial level, the payout at maturity will be par plus 1.25 times the return of the basket, capped at par plus 14%; investors will receive par if basket falls by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%
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| Initial levels: | $55.99 for EM ETF, $81.68 for EAFE ETF, $76.96 for EAFE Small-Cap ETF
|
| Buffer level: | 90% of initial basket level
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| Pricing date: | June 4
|
| Settlement date: | June 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552XMN0
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