Published on 4/9/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.07 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 9 – Credit Suisse AG, London Branch, priced $2.07 million of contingent coupon callable yield notes due March 29, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 7.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC and InCapital LLC are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 and Nasdaq-100
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Amount: | $2,067,000
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Maturity: | March 29, 2024
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Coupon: | 7.5% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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Call option: | Callable in whole at par plus any coupon on any quarterly observation date
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Initial levels: | 2,221.482 for Russell, 3,974.54 for S&P, 12,979.12 for Nasdaq
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Coupon barrier levels: | 1,555.0374 for Russell, 2,782.178 for S&P, 9,085.384 for Nasdaq, 70% of initial levels
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Knock-in levels: | 1,443.9633 for Russell, 2,583.451 for S&P, 8,436.428 for Nasdaq, 65% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Agents: | Credit Suisse Securities (USA) LLC and InCapital LLC
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Fees: | 2.125%
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Cusip: | 22552XF40
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