Published on 12/1/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on S&P, Dow
Chicago, Dec. 1 – Credit Suisse AG, London Branch, priced $500,000 of contingent coupon callable yield notes due March 23, 2029 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 6.57% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 50% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
Amount: | $500,000
|
Maturity: | March 23, 2029
|
Coupon: | 6.57% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
Call option: | Callable in whole at par plus any coupon due on any quarterly observation date
|
Initial levels: | 4262.45 for S&P, 33544.34 for Dow
|
Coupon barrier levels: | 2557.47 for S&P, 20126.604 for Dow, 60% of initial levels
|
Knock-in levels: | 2131.225 for S&P, 16772.17 for Dow, 50% of initial levels
|
Pricing date: | March 17
|
Settlement date: | March 24
|
Agents: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.75%
|
Cusip: | 22553PPF0
|
|
© 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.