Published on 11/24/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $483,000 autocallable buffered accelerated return notes on indexes
By Kiku Steinfeld
Chicago, Nov. 28 – Credit Suisse AG, London Branch priced $483,000 of 0% autocallable buffered accelerated return equity securities due March 28, 2025 linked to the S&P 500 index, the Dow Jones industrial average 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 a 12% call premium if each index finishes at or above its initial level on March 24, 2023.
If the notes are not called, the payout at maturity will be par plus double any gain of the worst-performing index. If any index falls but each index finishes at or above 85% of its initial level, the payout will be par. Otherwise, investors will lose 1.17647% for each 1% decline of the worst-performing index beyond the 15% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable buffered accelerated return equity securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $483,000
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| Maturity: | March 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus double any gain of the worst-performing index; if any index falls but each finishes at or above buffer level, par; otherwise, 1.17647% loss for each 1% decline of worst-performing index beyond buffer
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| Call: | At par plus 12% if each index finishes at or above its initial level on March 24, 2023
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| Initial levels: | 34358.50 for Dow, 2052.206 for Russell, 4456.24 for S&P
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| Buffer amount: | 29204.725 for Dow, 1744.3751 for Russell, 3787.804 for S&P, 85%
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| Pricing date: | March 23, 2022
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| Settlement date: | March 28, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.25%
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| Cusip: | 22553PPL7
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