Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 yield notes on three stocks
Chicago, May 18 – Credit Suisse AG, London Branch, priced $500,000 of 9.6% yield notes due Jan. 2, 2024 linked to the least performing of the stocks of Cisco Systems, Inc., McCormick & Co., Inc. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Yield notes
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Underlying stocks: | Cisco Systems, Inc., McCormick & Co., Inc. and Charles Schwab Corp.
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Amount: | $500,000
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Maturity: | Jan. 2, 2024
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Coupon: | 9.6% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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Initial levels: | $43.57 for Cisco, $83.45 for McCormick, $62.44 for Schwab
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Knock-in levels: | $21.785 for Cisco, $41.725 for McCormick, $31.22 for Schwab, or 50% of initial levels
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Strike date: | June 22, 2022
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Pricing date: | June 23, 2022
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Settlement date: | June 28, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.3%
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Cusip: | 22553QAE7
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