Published on 6/29/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.87 million trigger callable yield notes linked to ETFs
By Wendy Van Sickle
Columbus, Ohio, June 29 – Credit Suisse AG, London Branch priced $4.87 million of 5.88% trigger callable yield notes due June 28, 2023 linked to the iShares Russell 2000 ETF and the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly coupon payment date after three months.
The payout at maturity will be par unless the lowest performing ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the ETF’s decline.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger callable yield notes
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Underlying ETFs: | iShares Russell 2000 ETF and Invesco QQQ Trust, series 1
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Amount: | $4,873,400
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Maturity: | June 28, 2023
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Coupon: | 5.88%, payable monthly
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Price: | Par of $10
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Call option: | At par on any monthly call date after three months
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Payout at maturity: | If the lowest performing ETF finishes at or above downside threshold level, par; otherwise, full exposure to losses of ETF
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Initial levels: | $228.66 for iShares Russell 2000 and $347.74 for Invesco QQQ
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Downside threshold levels: | $137.20 for iShares Russell 2000 and $208.64 for Invesco QQQ; 60% of initial levels
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 22552Y358
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