Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.07 million autocallable securities on S&P, Dow
By William Gullotti
Buffalo, N.Y., April 22 – Credit Suisse AG, London Branch priced $1.07 million of 0% autocallable securities due Feb. 25, 2026 linked to the lowest performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 8.8% if all indexes close at or above initial levels on any semiannual observation date after one year.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus 35.2%.
If the worst performer declines up to 10%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,068,000
|
| Maturity: | Feb. 25, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes flat or gains, plus 35.2%; if the worst performer declines up to 10%, par; otherwise, 1% loss for each 1% decline of worst performing index from initial levels
|
| Call: | Automatically at par plus annualized redemption premium of 8.8% if each index closes at or above its initial level on any semiannual observation date after one year
|
| Initial levels: | 4,304.76 for S&P, 33,596.61 for Dow
|
| Downside threshold: | 3,874.284 for S&P, 30,236.949 for Dow; 90% of initial levels
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.75%
|
| Cusip: | 22553PKK4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
