Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $940,000 contingent coupon callable yield notes on three indexes
Chicago, Feb. 27 – Credit Suisse AG, London Branch, priced $940,000 of contingent coupon callable yield notes due Nov. 13, 2023 linked to the least 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 pay a contingent quarterly coupon at the rate of 10% per year if each index closes at or above its coupon barrier level, 55% 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.
If the worst performer finishes at or above its 55% knock-in level, the payout will be par. Otherwise, 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $940,000
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| Maturity: | Nov. 13, 2023
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| Coupon: | 10% 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 if worst performer finishes above knock-in level, par; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Callable in whole at par plus any coupon due on any quarterly observation date
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| Initial levels: | 12187.72 for Nasdaq, 1762.08 for Russell, 3991.24 for S&P
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| Coupon barrier levels: | 6703.246 for Nasdaq, 969.144 for Russell, 2195.182 for S&P; 55% of initial levels
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| Knock-in levels: | 6703.246 for Nasdaq, 969.144 for Russell, 2195.182 for S&P; 55% of initial levels
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| Pricing date: | May 9, 2022
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| Settlement date: | May 12, 2022
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.25%
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| Cusip: | 22553PWY1
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