Published on 3/24/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.75 million contingent coupon callable yield notes on three indexes
By William Gullotti
Buffalo, N.Y., March 24 – Credit Suisse AG, London Branch, priced $4.75 million of contingent coupon callable yield notes due March 24, 2025 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 11.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $4,747,000
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| Maturity: | March 24, 2025
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| Coupon: | 11.25% per year, payable quarterly if each underlying index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon due on any quarterly observation date after six months
|
| Initial levels: | 2,086.143 for Russell, 34,754.93 for Dow, 14,420.08 for Nasdaq
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| Coupon barrier levels: | 1,460.3001 for Russell, 24,328.451 for Dow, 10,094.056 for Nasdaq, 70% of initial levels
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| Knock-in levels: | 1,460.3001 for Russell, 24,328.451 for Dow, 10,094.056 for Nasdaq, 70% of initial levels
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| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22553PNU9
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