Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 high/low coupon CS notes tied to three stocks
Chicago, Oct. 2 – Credit Suisse AG, London Branch priced $500,000 of high/low coupon callable CS notes due Sept. 30, 2027 linked to the class A common stock of Meta Platforms, Inc., the class C capital stock of Alphabet Inc. and the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at 7% per year if each stock closes at or above its knock-in level, 70% of its initial level, on the observation date for that period. Otherwise, the interest rate for that quarter will be 0.25% per year.
The notes will be automatically called on any monthly autocall observation date starting after one year if each stock closes above its initial level.
If the notes have not been called, the payout at maturity will be par.
InspereX LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | High/low coupon CS notes
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| Underlying stocks: | Meta Platforms, Inc. (Ticker: META), Alphabet Inc. (Ticker: GOOG) and Amazon.com, Inc. (Ticker: AMZN)
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| Amount: | $500,000
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| Maturity: | Sept. 30, 2027
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| Coupon: | Each month, notes pay coupon at rate of 7% per year if each stock closes above coupon barrier level on observation date for that period; otherwise, coupon will be 0.25% per year for that interest period
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| Price: | Par
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| Payout at maturity: | Par
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| Call: | Automatically at par if each stock closes above initial level on any monthly autocall observation date starting after one year
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| Initial levels: | $141.61 for Meta, $100.74 for Alphabet, $118.01 for Amazon
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| Coupon barrier levels: | $99.127 for Meta, $70.518 for Alphabet, $82.607 for Amazon; 70% of initial levels
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| Pricing date: | Sept. 28, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | InspereX LLC
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| Fees: | 3.85%
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| Cusip: | 22553QMG9
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