Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $130,000 callable yield notes tied to Dow, S&P
Chicago, Aug. 16 – Credit Suisse AG, London Branch priced $130,000 of 7.45% callable yield notes due July 21, 2025 linked to the lowest performing of 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
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Issue: | Callable yield notes
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $130,000
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Maturity: | July 21, 2025
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Coupon: | 7.45% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of least-performing index
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Call option: | At par on any monthly interest payment date starting after one year
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Initial index levels: | 31072.61 for Dow, 3830.85 for S&P
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Knock-in levels: | 21750.827 for Dow, 2681.595 for S&P; 70% of initial levels
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Pricing date: | July 18, 2022
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Settlement date: | July 21, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 22553QB22
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