Published on 11/19/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.48 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Nov. 21 – Credit Suisse AG, London Branch priced $1.48 million of contingent coupon callable yield notes due March 24, 2025 linked to the lowest performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable quarterly at par after six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
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: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $1,481,000
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| Maturity: | March 24, 2025
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| Coupon: | 9.5% per year, payable quarterly if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | At par on any quarterly call date after six months
|
| Initial levels: | 34754.93 for Dow, 14420.08 for Nasdaq, 2086.143 for Russell
|
| Coupon barriers: | 24328.451 for Dow, 10094.056 or Nasdaq, 1460.3001 for Russell; 70% of initial levels
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| Knock-in levels: | 24328.451 for Dow, 10094.056 or Nasdaq, 1460.3001 for Russell; 70% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22553PNT2
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