New Issue: Credit Suisse prices $20 million review notes linked to S&P, Russell

By William Gullotti

Buffalo, N.Y., March 14 – Credit Suisse AG, London Branch priced $20 million of 0% review notes due Feb. 16, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 9.7% if each index closes at or above its initial level on Feb. 24, 2023.

If the notes are not called and each index finishes at or above its 70% knock-out level, the payout at maturity will be par plus 19.4%.

Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

J.P. Morgan Securities LLC is the placement agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Review notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$20 million
Maturity:	Feb. 16, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above knock-out level, par plus 19.4%; otherwise, full exposure to worst performer’s decline from initial level
Call:	Automatically at par plus 9.7% if each index closes at or above initial level on Feb. 24, 2023
Initial levels:	4,416.25 for S&P, 2,024.45 for Russell
Knock-out levels:	3,091.38 for S&P, 1,417.115 for Russell; 70% of initial level
Strike date:	Feb. 11
Pricing date:	Feb. 14
Settlement date:	Feb. 17
Placement agent:	J.P. Morgan Securities LLC
Fees:	0.45%
Cusip:	22553PJV2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.