Chicago, Dec. 5 – Credit Suisse AG, London Branch, priced $1 million of contingent coupon callable yield notes due July 3, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at a rate of 6.25% per year if the 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.
The payout at maturity will be par plus the final coupon if the index finishes at or above the 60% knock-in level, investors will receive par. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
The final level will use the average trading closing level from the five trading days ending with June 28, 2023.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,000,000
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| Maturity: | July 3, 2023
|
| Coupon: | 6.25% per year, payable monthly if the underlying index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if index finishes at or above knock-in level; otherwise, full exposure to the index’s decline from its initial level
|
| Call option: | Callable in whole at par plus any coupon due on any monthly observation date
|
| Initial level: | 4543.06
|
| Coupon barrier level: | 2725.84; 60% of initial level
|
| Knock-in level: | 2725.84; 60% of initial level
|
| Pricing date: | March 29
|
| Settlement date: | April 1
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.3%
|
| Cusip: | 22553PQE2
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