Published on 9/2/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $413,000 contingent coupon buffered callable yield notes on indexes
By Kiku Steinfeld
Chicago, Sept. 6 – Credit Suisse AG, London Branch priced $413,000 of contingent coupon buffered callable yield notes due Jan. 27, 2025 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at an annualized rate of 5.35% if each asset closes at or above its coupon barrier level, 70% of its initial level, on a semiannual observation date.
The notes are callable at par on any semiannual redemption date.
The payout at maturity will be par unless either asset finishes below its 85% buffer, in which case investors will lose 1% for each 1% decline of the lesser-performing asset beyond 15%.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered callable yield notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $413,000
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| Maturity: | Jan. 27, 2025
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| Coupon: | 5.35% per year, payable semiannually if each asset closes at or above its coupon barrier level on semiannual observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below its buffer level, in which case investors lose 1% for each 1% loss of lesser-performing asset beyond buffer
|
| Call option: | At par on any semiannual redemption date
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| Initial levels: | 4,397.94 for S&P, 1,987.918 for Russell
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| Coupon barriers: | 3,078.558 for S&P, 1,391.543 for Russell; 70% of initial levels
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| Buffers: | 3738.249 for S&P, 1689.7303 for Russell; 85% of initial levels
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| Pricing date: | Jan. 21, 2022
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| Settlement date: | Jan. 26, 2022
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| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 1.5%
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| Cusip: | 22553PE21
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