Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $888,000 contingent coupon callable yield notes on indexes
Chicago, Jan. 23 – Credit Suisse AG, London Branch priced $888,000 of contingent coupon callable yield notes due April 29, 2024 linked to the lowest performing of the Russell 2000 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 monthly coupon at an annualized rate of 11.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable monthly at par after three months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $888,000
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| Maturity: | April 29, 2024
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| Coupon: | 11.5% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | At par on any monthly call date after three months
|
| Initial levels: | 34792.76 for Dow, 13720.45 for Nasdaq, 1991.462 for Russell
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| Coupon barriers: | 24354.932 for Dow, 9604.315 for Nasdaq, 1394.0234 for Russell; 70% of initial levels
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| Knock-in levels: | 24354.932 for Dow, 9604.315 for Nasdaq, 1394.0234 for Russell; 70% of initial levels
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| Pricing date: | April 21, 2022
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| Settlement date: | April 28, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.7%
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| Cusip: | 22553PSU4
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