Published on 12/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $540,000 contingent coupon buffered callable notes on indexes
Chicago, Dec. 8 – Credit Suisse AG, London Branch priced $540,000 of contingent coupon buffered callable yield notes due April 7, 2025 linked to the lowest performing of 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 will pay a monthly coupon at an annualized rate of 5.55% if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes are callable at par on any monthly redemption date after six months.
The payout at maturity will be par unless any index finishes below its 70% buffer, in which case investors will lose 1% for each 1% decline of the least-performing index beyond the buffer.
Credit Suisse Securities (USA) LLC is the agent.
| 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, Russell 2000 index and Nasdaq-100 index
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| Amount: | $540,000
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| Maturity: | April 7, 2025
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| Coupon: | 5.55% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its buffer level, in which case investors lose 1% for each 1% loss of lesser-performing index beyond buffer
|
| Call option: | At par on any monthly redemption date after six months
|
| Initial levels: | 4545.86 for S&P, 2091.11 for Russell, 14861.21 for Nasdaq
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| Coupon barrier levels: | 3182.102 for S&P, 1463.777 for Russell, 10402.847 for Nasdaq; 70% of initial levels
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| Buffer levels: | 3182.102 for S&P, 1463.777 for Russell, 10402.847 for Nasdaq; 70% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 6
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553PQU6
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