Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $721,000 contingent coupon callable yield notes on four stocks
Chicago, June 23 – Credit Suisse AG, London Branch priced $721,000 of contingent coupon callable yield notes due Dec. 15, 2023 linked to the least performing of the stocks of Amazon.com, Inc., Cisco Systems, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 14.3% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes may be called at par plus any coupon on any monthly potential redemption date after one year.
If the worst performer finishes above its 70% knock-in level, the payout will be par. Otherwise, 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 callable yield notes
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| Underlying stocks: | Amazon.com, Inc., Cisco Systems, Inc., Target Corp. and Walmart Inc.
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| Amount: | $721,000
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| Maturity: | Dec. 15, 2023
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| Coupon: | 14.3% per year, payable monthly 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 the final coupon if each stock finishes at or above knock-in level; otherwise, full exposure to decline of the least-performing stock from its initial level
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| Call option: | At par plus any coupon on any monthly potential redemption date after one year
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| Initial levels: | $3,444.24 for Amazon, $59.25 for Cisco, $238.18 for Target, $141.03 for Walmart
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| Coupon barriers: | $2,410.968 for Amazon, $41.475 for Cisco, $166.726 for Target, $98.721 for Walmart; 70% of initial levels
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| Knock-in levels: | $2,410.968 for Amazon, $41.475 for Cisco, $166.726 for Target, $98.721 for Walmart; 65% of initial levels
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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: | 22553PBJ7
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