Published on 5/10/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $147,000 autocallable CS notes linked to S&P 500
By Kiku Steinfeld
Chicago, May 10 – Credit Suisse AG, London Branch priced $147,000 of 0% autocallable CS notes due Jan. 5, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
The notes will be called at par plus a call premium of 10% if the index closes at or above its initial level on Jan. 2, 2024.
If the notes are not called and the index finishes positive, the payout at maturity will be par plus 1.5 times its gain.
Otherwise, investors will receive par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable CS notes
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Underlying index: | S&P 500 index
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Amount: | $147,000
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Maturity: | Jan. 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain; otherwise, par
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Initial level: | 3,839.50
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Call: | Par plus 10% if index closes at or above its initial level on Jan. 2, 2024
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Pricing date: | Dec. 30, 2022
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Settlement date: | Jan. 5, 2023
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22553QPC5
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