Published on 4/28/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.73 million contingent coupon callable yield notes on four indexes
By William Gullotti
Buffalo, N.Y., April 28 – Credit Suisse AG, London Branch, priced $2.73 million of contingent coupon callable yield notes due June 26, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index, 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 monthly coupon at the rate of 8.25% per year if each index closes at or above its coupon barrier level, 60% 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 monthly observation date after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 60% 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
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
|
| Amount: | $2,733,000
|
| Maturity: | June 26, 2023
|
| Coupon: | 8.25% per year, payable monthly if each underlying index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| 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 monthly observation date after three months
|
| Initial levels: | 2,038.185 for Russell, 4,459.45 for S&P, 13,998.53 for Nasdaq, 35,160.79 for Dow
|
| Coupon barrier levels: | 1,222.911 for Russell, 2,675.67 for S&P, 8,399.118 for Nasdaq, 21,096.474 for Dow; 60% of initial levels
|
| Knock-in levels: | 1,222.911 for Russell, 2,675.67 for S&P, 8,399.118 for Nasdaq, 21,096.474 for Dow; 60% of initial levels
|
| Pricing date: | April 20
|
| Settlement date: | April 25
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.65%
|
| Cusip: | 22553PT66
|
|
|
© 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.
