Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $10 million enhanced trigger jump notes on four stocks
By William Gullotti
Buffalo, N.Y., June 17 – Credit Suisse AG, London Branch priced $10 million of 0% enhanced trigger jump securities due June 30, 2022 linked to the performance of Expedia Group, Inc., Facebook, Inc., Carnival Corp. and Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes at or above its 60% trigger level, the payout at maturity will equal par of $10 plus 19.3%.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock.
Credit Suisse Securities (USA) LLC is the agent, with Morgan Stanley Wealth Management as dealer.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Enhanced trigger jump securities
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Underlying stocks: | Expedia Group, Inc., Facebook, Inc., Carnival Corp., Airbnb, Inc.
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Amount: | $10,000,000
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each stock finishes at or above its 60% trigger level, par plus 19.3%; otherwise, 1% loss per 1% decline of worst performing stock
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Initial levels: | $171.58 for Expedia, $332.46 for Facebook, $29.83 for Carnival, $146.12 for Airbnb
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Trigger levels: | $102.95 for Expedia, $199.48 for Facebook, $17.90 for Carnival, $87.67 for Airbnb; 60% of initial levels
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | Credit Suisse Securities (USA) LLC
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 0.65%
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Cusip: | 22552Y309
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