Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $625,000 contingent coupon callable yield notes on S&P, Nasdaq
Chicago, May 12 – Credit Suisse AG, London Branch, priced $625,000 of contingent coupon callable yield notes due June 24, 2024 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 7% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 60% knock-in level, the payout will be par. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
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: | S&P 500 index, Nasdaq-100 index
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| Amount: | $625,000
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| Maturity: | June 24, 2024
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| Coupon: | 7% per year, payable quarterly if each underlying index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if each index finishes at or above its knock-in level; otherwise, full exposure to decline of least-performing index from initial level
|
| Call option: | Callable in whole at par plus any coupon due on any quarterly observation date
|
| Initial levels: | 3666.77 for S&P, 11127.57 for Nasdaq
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| Coupon barrier levels: | 2200.062 for S&P, 6676.542 for Nasdaq; 60% of initial levels
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| Knock-in levels: | 2200.062 for S&P, 6676.542 for Nasdaq; 60% of initial levels
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22553Q7G6
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