Published on 12/22/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $518,000 autocallable securities on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Dec. 22 – Credit Suisse AG, London Branch priced $518,000 of 0% autocallable securities due Aug. 30, 2024 tied to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Aug. 26, 2022, the notes will be called at par plus an annual premium of 6.75% if each index closes at or above its initial level on any of four semiannual valuation dates.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the least-performing index.
If the least-performing index finishes below its initial level but not below its barrier level, 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $518,000
|
| Maturity: | Aug. 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the least-performing index; if the least-performing index finishes below its initial level but not below its barrier level, par; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus an annual premium of 6.75% if each index closes at or above initial level on Aug. 26, 2022, Feb. 23, 2023, Aug. 28, 2023 or Feb. 26, 2024
|
| Initial levels: | 35,213.12 for Dow, 4,470.00 for S&P, 2,213.979 for Russell
|
| Barrier levels: | 24,649.184 for Dow, 3,129.00 for S&P, 1,549.7853 for Russell; 70% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552XSV6
|
|
|
|
|
© 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.
