Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.1 million contingent coupon buffered yield notes on three indexes
By William Gullotti
Buffalo, N.Y., June 17 – Credit Suisse AG, London Branch priced $1.1 million of contingent coupon buffered yield notes due Dec. 19, 2022 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7.1%, or 3.55% for the term, if each index closes at or above its 80% coupon barrier on the related monthly observation date.
The payout at maturity will be par plus the final coupon unless any index falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worst performer beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered yield notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,097,000
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| Maturity: | Dec. 19, 2022
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| Coupon: | 7.1% annualized, or 3.55% for the term, payable monthly if each index closes at or above its coupon barrier on related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index falls by more than 20%, in which case 1% loss for each 1% decline of the worst performer beyond 20%
|
| Initial levels: | 31,392.79 for Dow, 3,900.86 for S&P, 11,832.82 for Nasdaq
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| Coupon barriers/buffer levels: | 25,114.232 for Dow, 3,120.688 for S&P, 9,466.256 for Nasdaq; 80% of initial levels
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| Agent: | Credit Suisse Securities (USA) LLC
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| Strike date: | June 10
|
| Pricing date: | June 14
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| Settlement date: | June 17
|
| Fees: | 0.45%
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| Cusip: | 22553Q5V5
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