Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $555,000 contingent coupon callable yield notes on three indexes
Chicago, Oct. 26 – Credit Suisse AG, London Branch, priced $555,000 of contingent coupon callable yield notes due March 4, 2024 linked to the least performing of 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 pay a contingent quarterly coupon at the rate of 8.9% per year if each index closes at or above its coupon barrier level, 55% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any quarterly observation date.
If the worst performer finishes above its 55% knock-in level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
Amount: | $555,000
|
Maturity: | March 4, 2024
|
Coupon: | 8.9% per year, payable quarterly if each underlying index closes at or above its coupon barrier level on related observation date
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon if each index finishes above knock-in level; otherwise, full exposure to losses of worst performer
|
Call option: | Callable in whole at par plus any coupon due on any quarterly observation date
|
Initial levels: | 14,189.16 for Nasdaq, 4,384.65 for S&P, 2,040.929 for Russell
|
Coupon barrier levels: | 7,804.038 for Nasdaq, 2,411.5575 for S&P, 1,122.51095 for Russell, 55% of initial levels
|
Knock-in levels: | 7,804.038 for Nasdaq, 2,411.5575 for S&P, 1,122.51095 for Russell, 55% of initial levels
|
Pricing date: | Feb. 25
|
Settlement date: | March 2
|
Agents: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 22553PLM9
|
|
|
© 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.