Published on 11/18/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $345,000 contingent coupon autocallable yield notes on S&P, Russell
By Kiku Steinfeld
Chicago, Nov. 18 – Credit Suisse AG, London Branch priced $345,000 of contingent coupon autocallable yield notes due Sept. 21, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 75% of its initial level, on a quarterly observation date, the notes will pay a contingent payment for that period at a rate of 11.25% per year.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall observation date after six months.
If the notes are not called, the payout at maturity will be par unless either index closes below its 75% knock-in level during the life of the notes, in which case investors will receive par plus the return of the lesser performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $345,000
|
Maturity: | Sept. 21, 2023
|
Contingent payment: | 11.25% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless either index closes below knock-in level during life of notes, in which case par plus return of lesser performing index, subject to maximum payout of par
|
Call: | Automatically at par plus contingent coupon if each index closes at or above its initial level on any quarterly autocall observation date after six months
|
Initial levels: | 4357.86for S&P, 2030.720 for Russell
|
Coupon barrier level: | 3268.395 for S&P, 1523.040 for Russell, 75% of initial levels
|
Knock-in levels: | 3268.395 for S&P, 1523.040 for Russell, 75% of initial levels
|
Pricing date: | March 16
|
Settlement date: | March 21
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 1.15%
|
Cusip: | 22553PM71
|
|
© 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.