Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $11.41 million contingent coupon callable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 8 – Credit Suisse AG, London Branch priced $11.41 million contingent coupon callable yield notes due July 7, 2025 linked to the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.1% if each index closes at or above its barrier level, 75% 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 quarterly interest payment date after one year.
The payout at maturity will be par unless any index finishes at or below its 50% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
Credit Suisse Securities (USA) LLC is the 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, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $11,413,000
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| Maturity: | July 7, 2025
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| Coupon: | 10.1%, payable quarterly if each index closes at or above its barrier level on quarterly 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 quarterly interest payment date after one year
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| Initial levels: | 11,503.72 for Nasdaq, 3,785.38 for S&P and 30,775.43 for Dow
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| Barrier levels: | 8627.79 for Nasdaq, 2,839.035 for S&P and 23,081.5725 for Dow; 75% of initial levels
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| Knock-in levels: | 5,751.86 for Nasdaq, 1,892.69 for S&P and 15,387.715 | for Dow; 50% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 23
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.25%
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| Cusip: | 22553PZT9
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