Published on 7/10/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $710,000 contingent coupon callable yield notes on Paycom Software
By Kiku Steinfeld
Chicago, July 11 – Credit Suisse AG, London Branch, priced $710,000 of contingent coupon callable yield notes due Dec. 29, 2023 to the performance of the stock of Paycom Software, 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 12.4% if the stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly early redemption date.
The payout at maturity will be par unless the stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying stock: | Paycom Software, Inc.
|
Amount: | $710,000
|
Maturity: | Dec. 29, 2023
|
Coupon: | 12.4% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
|
Call: | At par on any quarterly early redemption date
|
Initial prices: | $423.83
|
Coupon barrier level: | $254.298; 60% of initial level
|
Knock-in level: | $254.298; 60% of initial level
|
Pricing date: | Dec. 23, 2021
|
Settlement date: | Dec. 29, 2021
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 1%
|
Cusip: | 22553PDC0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.