Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on two indexes
Chicago, Oct. 25 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Feb. 25, 2025 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 will pay a quarterly contingent coupon at an annual rate of 8.2% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each index closes at or above its initial level on any quarterly autocall observation date after six months.
The payout at maturity will be par unless any index closes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | Feb. 25, 2025
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| Coupon: | 8.2% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its 70% knock-in level, in which case full exposure to the decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly autocall observation date after six months
|
| Initial levels: | 33596.61 for Dow, 4304.76 for S&P
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| Coupon barriers: | 23517.627 for Dow, 3013.332 for S&P; 70% of initial levels
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| Knock-in levels: | 23517.627 for Dow, 3013.332 for S&P; 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553PL23
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