Published on 8/5/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.05 million buffered market-linked autocalls on basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 5 – Credit Suisse AG, London Branch priced $2.05 million of market-linked securities due Aug. 3, 2026 – autocallable with fixed-percentage buffered downside linked to a basket of the Euro Stoxx 50 index (45% weight), the FTSE 100 index (20% weight), the Nikkei 225 index (20% weight), the Swiss Market index (7.5% weight) and the S&P/ASX 200 index (7.5% weight), according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 10.2% per year if the basket closes at or above its initial level on any annual observation date starting Aug. 3, 2023.
The payout at maturity will be par unless the basket finishes below its 90% buffer, in which case the payout will be par plus the return of the basket with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Market linked securities – autocallable with fixed-percentage buffered downside
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| Underlying basket: | Euro Stoxx 50 index (45% weight), the FTSE 100 index (20% weight), Nikkei 225 index (20% weight), Swiss Market index (7.5% weight) and S&P/ASX 200 index (7.5% weight)
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| Amount: | $2.05 million
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| Maturity: | Aug. 3, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless basket falls by more than 10%, in which case 1% loss per 1% decline of basket
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| Call: | At par plus 10.2% per year if the basket closes at or above its initial level on any annual observation date starting Aug. 3, 2023
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| Initial levels: | 3,708.1 for Stoxx, 7,423.43 for FTSE, 27,801.64 for Nikkei, 11,145.91 for Swiss Market, 6,945.15 for SP/ASX
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| Buffer level: | 90% of initial level
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 2.825%
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| Cusip: | 22553QD53
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