Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.43 million autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, Nov. 15 – Credit Suisse AG, London Branch priced $1.43 million of 11.85%autocallable yield notes due March 18, 2024 linked to the least performing of the stocks of Apple Inc., Advanced Micro Devices, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a monthly coupon at an annual rate of 11.85%.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any monthly autocall observation date after three months.
The payout at maturity will be par if each stock finishes at or above its 60% knock-in level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Apple Inc., Advanced Micro Devices, Inc. and Nvidia Corp.
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| Amount: | $1,433,000
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| Maturity: | March 18, 2024
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| Coupon: | 11.85% per year, payable monthly.
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon if each stock finishes at or above its knock-in barrier; otherwise, full exposure to decline of the worst performer from its initial level
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| Call: | Automatically at par if each stock closes at or above initial level on any monthly autocall observation date after three months
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| Initial levels: | $155.09 for Apple, $109.33 for AMD, $229.73 for Nvidia
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| Coupon barriers: | $93.054 for Apple, $65.598 for AMD, $137.838 for Nvidia; 60% of initial levels
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| Knock-in levels: | $93.054 for Apple, $65.598 for AMD, $137.838 for Nvidia; 60% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.96%
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| Cusip: | 22553PMV8
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