Published on 12/14/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $501,000 autocallable securities on stocks
By Kiku Steinfeld
Chicago, Dec. 14 – Credit Suisse AG, London Branch priced $501,000 of 0% autocallable securities due April 21, 2027 linked to the lowest performing of the common stocks of Moderna, Inc., Pinterest, Inc., Block, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 25% if all stocks close at or above their call levels, 68% of their initial levels, on any quarterly observation date.
If the notes are not called and the worst performer is greater than the 50% knock-in level, the payout at maturity will be par plus 125%. If the final level of any stock is less than its knock-in level, investors will lose 1% for each 1% decline of the lesser performing stock from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Autocallable securities
|
Underlying stocks: | Moderna, Inc., Pinterest, Inc., Block, Inc. and Wells Fargo & Co.
|
Amount: | $501,000
|
Maturity: | April 21, 2027
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 125% if all stocks close above knock-in levels; otherwise, full exposure to losses of worst performer
|
Call: | Automatically at par plus annualized redemption premium of 25% if each stock closes at or above 68% of its initial level on any quarterly observation date
|
Initial levels: | $154.75 for Moderna, $21.83 for Pinterest, $119.39 for Block, $47.17 for Wells
|
Knock-in levels: | $77.375 for Moderna, $10.915 for Pinterest, $59.695 for Block, $23.585 for Wells; 50% of initial levels
|
Call levels: | $105.23 for Moderna, $14.8444 for Pinterest, $81.1852 for Block, $32.0756 for Wells; 68% of initial levels
|
Pricing date: | April 18
|
Settlement date: | April 21
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 1.75%
|
Cusip: | 22553PSK6
|
|
© 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.