Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $379,000 13.55% autocallable reverse convertibles on Meta
Chicago, Aug. 29 – Credit Suisse AG, London Branch priced $379,000 of 13.55% autocallable reverse convertible securities due July 19, 2023 linked to the class A common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any monthly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the knock-in level, 65% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Meta Platforms, Inc.
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| Amount: | $379,000
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| Maturity: | July 19, 2023
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| Coupon: | 13.55% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless the shares finish below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
|
| Call: | At par if shares close at or above initial share price on any monthly trigger observation date after six months
|
| Initial level: | $167.96
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| Knock-in price: | $109.174; 65% of initial level
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| Pricing date: | Aug. 19, 2022
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| Settlement date: | Aug. 24, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.15%
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| Cusip: | 22550MF20
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