Published on 6/3/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.94 million accelerated barrier notes on Nasdaq, two SPDR ETFs
By William Gullotti
Buffalo, N.Y., June 3 – Credit Suisse AG, London Branch priced $3.94 million of 0% accelerated barrier notes due May 28, 2027 linked to the Consumer Staples Select Sector SPDR Fund, the Nasdaq-100 index and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus 273% of the return of the least performing underlier.
If any underlier falls but each underlier finishes at or above the 60% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performing underlier from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Accelerated barrier notes
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| Underlying assets: | Nasdaq-100 index, Health Care Select Sector SPDR Fund, Consumer Staples Select Sector SPDR Fund
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| Amount: | $3.94 million
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| Maturity: | May 28, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above its initial level, par plus 273% of the return of the least performing underlier; if any underlier falls but all underliers finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worst performing underlier from its initial level
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| Initial index levels: | 12,276.79 for Nasdaq, $131.83 for Health ETF, $74.14 for Consumer ETF
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| Knock-in levels: | 7,366.074 for Nasdaq, $79.098 for Health ETF, $44.484 for Consumer ETF; 60% of initial levels
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22553PZS1
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