Published on 9/1/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.05 million contingent coupon autocallable yield notes on two stocks
Chicago, Sept. 1 – Credit Suisse AG, London Branch priced $1.05 million of contingent coupon autocallable yield notes due Aug. 30, 2024 linked to the least performing of the stocks of Diamondback Energy, Inc. and Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 12.2%.
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 after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% 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: | Diamondback Energy, Inc. and Halliburton Co.
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Amount: | $1,049,000
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Maturity: | Aug. 30, 2024
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Coupon: | 12.2% per year, payable quarterly
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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 after six months
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Initial levels: | $133.93 for Diamondback, $31.10 for Halliburton
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Knock-in levels: | $66.965 for Diamondback, $15.55 for Halliburton; 50% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.076%
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Cusip: | 22553QHP5
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