Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $348,000 autocallable securities on index, ETF
Chicago, May 12 – Credit Suisse AG, London Branch priced $348,000 of 0% autocallable securities due June 23, 2026 linked to the lowest performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 14.5% if all underliers close at or above initial levels on any annual observation date.
If the notes are not called and the final level of each underlier is greater than or equal to its initial level, the payout at maturity will be par plus 58%.
If any underlier declines up to 30%, the payout at maturity will be par.
If the final level of any underlier is less than its 70% downside threshold, investors will lose 1% for each 1% decline of the lesser performing underlier from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $348,000
|
| Maturity: | June 23, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above initial level, par plus 58%; if the worst performer declines up to the downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing underlier from its initial level
|
| Call: | Automatically at par plus annualized redemption premium of 14.5% if each underlier closes at or above its initial level on any annual observation date
|
| Initial levels: | $39.67 for ETF, 1665.694 for index
|
| Downside threshold: | $27.769 for ETF, 1165.9858 for index; 70% of initial levels
|
| Pricing date: | June 17, 2022
|
| Settlement date: | June 23, 2022
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22553Q2C0
|
|
|
© 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.
