Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $101,000 autocallable securities on Dow, Russell, S&P
Chicago, May 18 – Credit Suisse AG, London Branch priced $101,000 of 0% autocallable securities due Oct. 29, 2024 linked to the lowest performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 6.6% if each underlying index closes at or above its initial level on any semiannual review date starting after one year.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worst performer. If any index falls but each index finishes at or above its 70% knock-in level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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| Amount: | $101,000
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| Maturity: | Oct. 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus return of worst performer if each index finishes at or above initial level; par if any index falls but none finish below knock-in level; otherwise, investors will be fully exposed to any decline of the least performing index
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| Call: | Automatically at par plus annualized redemption premium of 6.6% if each index closes at or above its initial level on any semiannual review date after one year
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| Initial levels: | 4574.79 for S&P, 35756.88 for Dow, 2296.075 for Russell
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| Knock-in levels: | 3202.353 for S&P, 25029.816 for Dow, 1,607.2525 for Russell; 70% of initial levels
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22552XXC2
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