Published on 10/5/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Oct. 5 – Credit Suisse AG, London Branch, priced $500,000 of contingent coupon callable yield notes due Jan. 16, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 8.75% per year if each index closes at or above its coupon barrier level, 80% 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 monthly observation date after six months.
The payout at maturity will be par unless any index finishes below its 80% 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 is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | Jan. 16, 2024
|
| Coupon: | 8.75% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon on any monthly observation date after six months
|
| Initial levels: | 34,870.16 for Dow, 14,826.09 for Nasdaq, 4,369.55 for S&P
|
| Coupon barriers: | 27,896.128 for Dow, 11,860.872 for Nasdaq, 3,495.64 for S&P; 80% of initial levels
|
| Knock-in levels: | 27,896.128 for Dow, 11,860.872 for Nasdaq, 3,495.64 for S&P; 80% of initial levels
|
| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22552XQ63
|
|
|
|
|
© 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.
