Published on 3/1/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.41 million ARES on basket of 10 stocks
By Marisa Wong
Los Angeles, March 1 – Credit Suisse AG, London Branch priced $1.41 million of Accelerated Return Equity Securities due March 9, 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 Airbnb, Inc., Amgen Inc., Amazon.com, Inc., BlackRock, Inc., Eli Lilly and Co., lululemon athletica inc., Southwest Airlines Co., MSCI Inc., Micron Technology, Inc. and Snowflake Inc.
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 27.85%.
Investors will be fully exposed to any basket decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated Return Equity Securities
|
| Underlying stocks: | Airbnb, Inc. (Symbol: ABNB), Amgen Inc. (Symbol: AMGN), Amazon.com, Inc. (Symbol: AMZN), BlackRock, Inc. (Symbol: BLK), Eli Lilly and Co. (Symbol: LLY), lululemon athletica inc. (Symbol: LULU), Southwest Airlines Co. (Symbol: LUV), MSCI Inc. (Symbol: MSCI), Micron Technology, Inc. (Symbol: MU) and Snowflake Inc. (Symbol: SNOW); equally weighted
|
| Amount: | $1,405,000
|
| Maturity: | March 9, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at par plus 27.85%; full exposure to losses
|
| Initial levels: | $179.17 for Airbnb, $240.49 for Amgen, $3,380 for Amazon, $729.50 for BlackRock, $197.56 for Eli Lilly, $343.92 for lululemon, $45.62 for Southwest, $425.13 for MSCI, $81.62 for Micron, $300.71 for Snowflake
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.25%
|
| Cusip: | 22552XAR4
|
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