Published on 3/13/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $750,000 digital barrier notes on stocks
By Kiku Steinfeld
Chicago, March 14 – Credit Suisse AG, London Branch priced $750,000 of 0% digital barrier notes due Oct. 20, 2022 linked to worst performing of the common stocks of Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if any stock finishes below its knock-in level, 75% of the initial level.
Upon maturity, investors will receive par plus the 12.35% fixed payment unless a knock-in event occurs, in which case investors will lose 1% for each 1% loss of the worse performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
|
| Underlying stocks: | Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co.
|
| Amount: | $750,000
|
| Maturity: | Oct. 20, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the 12.35% fixed payment unless a knock-in event occurs, in which case investors will lose 1% for each 1% loss of the worse performing stock
|
| Initial levels: | $40.45 for BofA, $70 for Citi, $158.09 for JPMorgan
|
| Knock-in levels: | $30.3375 for BofA, $52.50 for Citi, $118.5675 for JPMorgan; 75% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.65%
|
| Cusip: | 22552XVG5
|
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