Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $230,000 contingent coupon notes linked to S&P, Russell, Nasdaq
By Angela McDaniels
Tacoma, Wash., June 26 – Credit Suisse AG, London Branch priced $230,000 of contingent coupon callable yield notes due July 29, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that month.
Beginning Oct. 31, 2022, the notes are callable at par monthly.
The payout at maturity will be par unless any index finishes below its knock-in level, 60% of its initial level, in which case investors will be exposed to the 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: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
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| Amount: | $230,000
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| Maturity: | July 29, 2025
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| Coupon: | 8% per year, payable monthly unless any index closes below coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least performing index
|
| Call: | Beginning Oct. 31, 2022, at par on any monthly observation date
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| Initial levels: | 4,023.61 for S&P 500, 1,848.339 for Russell 2000 and 12,601.47 for Nasdaq-100
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| Coupon barriers: | 2,414.166 for S&P 500, 1,109.0034 for Russell 2000 and 7,560.882 for Nasdaq-100; 60% of initial levels
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| Knock-in levels: | 2,414.166 for S&P 500, 1,109.0034 for Russell 2000 and 7,560.882 for Nasdaq-100; 60% of initial levels
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| Pricing date: | July 27, 2022
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| Settlement date: | July 29, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22553QDZ7
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