Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 autocallable securities on three stocks
Chicago, June 13 – Credit Suisse AG, London Branch priced $500,000 of 0% autocallable securities due Dec. 3, 2026 linked to the performance of the stocks of Walt Disney Co., SoFi Technologies, Inc. and Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 43% if all stocks close at or above initial levels on any semiannual observation date starting after one year.
At maturity, investors will receive par plus 215% if each stock closes above its initial level.
If at least one stock declines but all finish above their knock-in levels, 70% of its initial level, the payout will be par.
If the final level of any stock is less than its knock-in level, investors will lose 1% for each 1% decline of the worst performer from its initial level.
The agent is Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying stocks: | Walt Disney Co., SoFi Technologies, Inc. and Square, Inc.
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| Amount: | $500,000
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| Maturity: | Dec. 3, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 215% if all stocks finish above initial levels; if final level of the worst performing stock declines but is greater than or equal to its knock-in level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus 43% annualized redemption premium if each stock closes at or above its initial level on any semiannual observation date starting after one year
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| Initial levels: | $147.81 for Disney, $18.43 for SoFi, $212.87 for Square
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| Knock-in levels: | $103.467 for Disney, $12.901 for SoFi, $149.009 for Square; 70% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553P7K9
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