Published on 9/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.06 million autocallable buffered return equity notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Credit Suisse AG, London Branch priced $1.06 million of 0% autocallable buffered return equity securities due Sept. 8, 2027 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an 11% annualized premium if both indexes close at or above their initial levels on any annual observation dates.
If the notes are not called, investors will receive par plus 55% if each index finishes at or above 70% of its initial level. Investors will receive par if the lesser performing index falls by up to 30% and will lose 1.42857% for each 1% decline of the worse performing index beyond 30%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
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| Underlying indexes: | Russell 2000, Nasdaq-100, S&P 500
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| Amount: | $1,064,000
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| Maturity: | Sept. 8, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 55% if each index finishes at or above 70% of its initial level; par if lesser performing index falls by up to 30%; 1.42857% loss for each 1% decline of lesser performing index beyond 30%
|
| Call: | Automatically at par plus 11% annualized premium if each index closes at or above its initial level on any annual date
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| Initial levels: | 3,924.26 for S&P, 1,809.748 for Russell, 12,098.44 for Nasdaq
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| Buffer levels: | 2,746.982 for S&P, 1,266.8236 for Russell, 8,468.908 for Nasdaq; 70% of initial levels
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| Pricing date: | Sept. 2
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| Settlement date: | Sept. 8
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
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| Cusip: | 22553QJ40
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