Published on 4/25/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $404,000 contingent coupon buffered autocallables on index, ETF
Chicago, April 25 – Credit Suisse AG, London Branch priced $404,000 of contingent coupon buffered autocallable yield notes due March 3, 2025 linked to the least performing of the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 10.35% if each asset closes at or above its 85% coupon barrier on the related observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless either asset falls by more than 15%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond the 15% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon buffered autocallable yield notes
|
| Underlying assets: | S&P 500 index, SPDR S&P Regional Banking ETF
|
| Amount: | $404,000
|
| Maturity: | March 3, 2025
|
| Coupon: | 10.35% annualized, payable monthly if each asset closes at or above its coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset falls by more than 15%, in which case 1% loss for each 1% decline of worse performing asset beyond 15%
|
| Call: | At par if each asset closes at or above initial level on any monthly call observation date after six months
|
| Initial levels: | 4057.84 for S&P 500 and $63.31 for fund
|
| Coupon barriers: | 3449.164 for S&P 500 and $53.8135 for fund; 85% of initial levels
|
| Buffer levels: | 3449.164 for S&P 500 and $53.8135 for fund; 85% of initial levels
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Pricing date: | May 26, 2022
|
| Settlement date: | May 31, 2022
|
| Fees: | 3.85%
|
| Cusip: | 22553PW47
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
