Published on 2/8/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 digital barrier notes on stock basket
Chicago, Feb. 8 – Credit Suisse AG, London Branch priced $500,000 of digital barrier notes due June 2, 2023 linked to a basket of an equally weighted basket of four stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Hilton Worldwide Holdings Inc., Airbnb, Inc., Wynn Resorts, Ltd. and Marriott International, Inc.
If the basket finishes above its 65% knock-in level, the payout will be par plus 11.15%. Otherwise, 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: | Digital barrier notes
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| Underlying basket: | Hilton Worldwide Holdings Inc., Airbnb, Inc., Wynn Resorts, Ltd. and Marriott International, Inc.; equally weighted
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| Amount: | $500,000
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| Maturity: | June 2, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 11.15% if basket closes above knock-in level; full exposure to losses
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| Initial levels: | $155.29 for Hilton, $153.21 for Airbnb, $70.48 for Wynn, $177.52 for Marriott
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| Knock-in level: | 65% of initial level
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| Strike date: | April 29, 2022
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| Pricing date: | May 2, 2022
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| Settlement date: | May 4, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22553PUZ0
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