Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $935,000 contingent coupon callable yield notes on three stocks
Chicago, June 23 – Credit Suisse AG, London Branch priced $935,000 of contingent coupon callable yield notes due Dec. 16, 2024 linked to the common stocks of Carnival Corp., Southwest Airlines Co. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 25.1% if each stock closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes may be called at par on any monthly call observation date after three months.
The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stocks: | Carnival Corp., Southwest Airlines Co. and Wynn Resorts, Ltd.
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| Amount: | $935,000
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| Maturity: | Dec. 16, 2024
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| Coupon: | 25.1 % per year, payable monthly if each stock closes at or above its barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to worst-performing stock’s losses
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| Call option: | At par on any monthly call observation date after three months
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| Initial prices: | $19.28 for Carnival, $41.97 for Southwest, $87.58 for Wynn
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| Coupon barrier levels: | $13.496 for Carnival, $29.379 for Southwest, $61.306 for Wynn; 70% of initial prices
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| Knock-in levels: | $9.64 for Carnival, $20.985 for Southwest, $43.79 for Wynn; 50% of initial prices
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553PB57
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