Published on 12/15/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.01 million autocallable securities on S&P, Russell, Dow
By William Gullotti
Buffalo, N.Y., Dec. 15 – Credit Suisse AG, London Branch priced $5.01 million of 0% autocallable securities due Dec. 9, 2024 linked to the lowest performing of the Dow Jones industrial average, the Russell 2000 index 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 12% if all indexes close at or above initial levels on any annual observation date.
If the notes are not called and the final level of each index is equal to or greater than its downside threshold, 70% of its initial level, the payout will be par plus 36%.
If the final level of any index is less than its downside threshold, 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
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $5,012,000
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| Maturity: | Dec. 9, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final level of the worst performing index is greater than or equal to its downside threshold, par plus 36%; otherwise, 1% loss for each 1% decline of worst performing index from initial levels
|
| Call: | Automatically at par plus annualized redemption premium of 12% if each index closes at or above its initial level on any annual observation date
|
| Initial levels: | 4,591.67 for S&P, 2,203.479 for Russell, 35,227.03 for Dow
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| Downside threshold: | 3,214.169 for S&P, 1,542.4353 for Russell, 24,658.921 for Dow; 70% of initial levels
|
| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.35%
|
| Cusip: | 22553PAX7
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