Chicago, Sept. 22 – Credit Suisse AG, London Branch priced $981,000 of contingent coupon autocallable yield notes due Sept. 19, 2024 linked to the stock performance of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 16.35% if the stock closes above its coupon barrier, 55% of its initial level, on the observation date for the period.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly autocall observation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below their knock-in level, 55% of their initial price, in which case investors will be exposed to the decline of the stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stock: | Halliburton Co.
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Amount: | $981,000
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Maturity: | Sept. 19, 2024
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Coupon: | 16.35% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless stock finishes below knock-in level, in which case investors will be exposed to the decline of the stock
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Call: | Automatically at par plus coupon if shares close at or above initial share price on any quarterly autocall observation date
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Initial level: | $28.19
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Coupon barrier/knock-in price: | $15.5045, 55% of initial level
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Pricing date: | Sept. 16, 2022
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Settlement date: | Sept. 21, 2022
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 22553QL96
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