Published on 12/23/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.19 million ARES on basket of 10 stocks
By William Gullotti
Buffalo, N.Y., Dec. 23 – Credit Suisse AG, London Branch priced $2.19 million of Accelerated Return Equity Securities due Dec. 19, 2022 linked to an equally weighted basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Amedisys, Inc., Bandwidth Inc., Chewy, Inc., Walt Disney Co., Darden Restaurants, Inc., KKR & Co. Inc., Lockheed Martin Corp., Moderna, Inc., Prudential Financial, Inc. and Ralph Lauren Corp.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket gain, subject to a maximum payout of par plus 30%.
Investors will be fully exposed to any basket decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Accelerated Return Equity Securities
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| Underlying stocks: | Amedisys, Inc. (Symbol: AMED), Bandwidth Inc. (Symbol: BAND), Chewy, Inc. (Symbol: CHWY), Walt Disney Co. (Symbol: DIS), Darden Restaurants, Inc. (Symbol: DRI), KKR & Co. Inc. (Symbol: KKR), Lockheed Martin Corp. (Symbol: LMT), Moderna, Inc. (Symbol: MRNA), Prudential Financial, Inc. (Symbol: PRU), Ralph Lauren Corp. (Symbol: RL); equally weighted
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| Amount: | $2.19 million
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| Maturity: | Dec. 19, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any basket gain, capped at par plus 30%; otherwise, full exposure to basket decline
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| Initial levels: | $136.70 for Amedisys, $66.46 for Bandwidth, $66.50 for Chewy, $142.15 for Disney, $136.66 for Darden, $74.00 for KKR, $328.42 for Lockheed Martin, $310.61 for Moderna, $100.05 for Prudential, $116.45 for Ralph Lauren
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22553P7J2
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