Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $538,000 contingent coupon buffered callable yield notes on indexes
Chicago, May 12 – Credit Suisse AG, London Branch priced $538,000 of contingent coupon buffered callable yield notes due June 23, 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 9.8% if each index closes at or above its coupon barrier level, 75% of its initial level, on the related 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 80% buffer, in which case investors will lose 1% for each 1% decline of the lesser-performing asset beyond 20%.
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 and Russell 2000 index
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| Amount: | $538,000
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| Maturity: | June 23, 2025
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| Coupon: | 9.8% per year, payable semiannually if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index 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
|
| Initial levels: | 3674.84 for S&P, 1665.694 for Russell
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| Coupon barriers: | 2756.13 for S&P, 1249.2705 for Russell; 75% of initial levels
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| Buffer levels: | 2939.872 for S&P, 1332.5552 for Russell; 80% of initial levels
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.45%
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| Cusip: | 22553PZZ5
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