Published on 1/25/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.55 million contingent coupon yield notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 25 – Credit Suisse AG, London Branch priced $6.55 million of contingent coupon yield notes due Jan. 25, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8.75% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its knock-in level, 60% of its initial level, in which case investors will be fully exposed to the decline in the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon yield notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $6,545,000
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Maturity: | Jan. 25, 2024
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Coupon: | 8.75%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline in lesser-performing index
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Initial levels: | 1,867.336 for Russell 2000, 3,972.61 for S&P 500
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Barrier/knock-in levels: | 1,120.4016 for Russell 2000, 2,838.566 for S&P 500, 60% of initial level
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Pricing date: | Jan. 20
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Settlement date: | Jan. 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22548QQ34
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