Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $748,000 callable yield notes tied to Dow, S&P 500
Chicago, May 1 – Credit Suisse AG, London Branch priced $748,000 of 7.3% callable yield notes due June 16, 2025 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be callable at par on any monthly interest payment date starting after one year.
The payout at maturity will be par unless either index finishes below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Callable yield notes
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $748,000
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| Maturity: | June 16, 2025
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| Coupon: | 7.3% annual rate, payable monthly
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| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any monthly interest payment date starting after one year
|
| Initial index levels: | 31392.79 for Dow, 3900.86 for S&P
|
| Knock-in levels: | 21974.953 for Dow, 2730.602 for S&P; 70% of initial levels
|
| Pricing date: | June 10, 2022
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| Settlement date: | June 15, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
|
| Cusip: | 22553PZB8
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