Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $420,000 contingent coupon autocallable yield notes on two stocks
Chicago, May 31 – Credit Suisse AG, London Branch priced $420,000 of contingent coupon autocallable yield notes due Nov. 15, 2024 linked to the least performing of the stocks of Apple Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.71% if each stock closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly autocall observation date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 80% knock-in level, in which case investors will be fully exposed to the losses of the least-performing 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 stocks: | Apple Inc. and Alphabet Inc.
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Amount: | $420,000
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Maturity: | Nov. 15, 2024
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Coupon: | 10.71% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall observation date
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Initial levels: | $150.81 for Apple, $2,978.37 for Alphabet
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Coupon barriers: | $120.648 for Apple, $2,382.696 for Alphabet; 80% of initial levels
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Knock-in levels: | $120.648 for Apple, $2,382.696 for Alphabet; 80% of initial levels
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Pricing date: | Nov. 9, 2021
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Settlement date: | Nov. 15, 2021
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 22553P3N7
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