Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.63 million contingent coupon callable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 23 – Credit Suisse AG, London Branch priced $5.63 million contingent coupon callable yield notes due June 23, 2027 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 9.5% if each index closes at or above its barrier level, 60% of the initial level, on the observation date for that period.
The notes will be callable at par plus the contingent coupon, if any, on any semiannual interest payment date.
The payout at maturity will be par unless any index finishes at or below its 60% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $5,627,000
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| Maturity: | June 23, 2027
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| Coupon: | 9.5%, payable semiannually if each index closes at or above its barrier level on semiannual observation date
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| Price: | Par
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| Payout at maturity: | If any underlying component falls to or below knock-in level, par plus return of worst-performing underlying index; otherwise, par
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| Call option: | At par plus coupon, if any, on any semiannual interest payment date
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| Initial levels: | 1,665.694 for Russell, 3,674.84 for S&P and 29,888.78 for Dow
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| Barrier/knock-in levels: | 999.416 for Russell, 2,204.9 for S&P and 17,933.268 for Dow; 60% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 23
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| Placement agent: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0%
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| Cusip: | 22553Q4U8
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