Published on 10/18/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.53 million contingent coupon callable yield notes on three indexes
By William Gullotti
Buffalo, N.Y., Oct. 18 – Credit Suisse AG, London Branch, priced $1.53 million of contingent coupon callable yield notes due Sept. 21, 2027 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 9.7% per year if each index closes at or above its coupon barrier level, 60% 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 monthly observation date after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 60% knock-in level, in which case 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, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,533,000
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| Maturity: | Sept. 21, 2027
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| Coupon: | 9.7% per year, payable monthly if each underlying 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 plus the final coupon unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon due on any monthly observation date after three months
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| Initial levels: | 3,873.33 for S&P, 11,861.38 for Nasdaq, 30,822.42 for Dow
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| Coupon barrier levels: | 2,323.998 for S&P, 7,116.828 for Nasdaq, 18,493.452 for Dow; 60% of initial levels
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| Knock-in levels: | 2,323.998 for S&P, 7,116.828 for Nasdaq, 18,493.452 for Dow; 60% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22553QJZ1
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