Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 22 – Credit Suisse AG, London Branch, priced $3 million of contingent coupon callable yield notes due May 27, 2022 linked to the least performing of the Dow Jones industrial average, 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 monthly coupon at the rate of 7.85% 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 monthly observation date.
The payout at maturity will be par unless any index finishes below its 70% 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and Nasdaq-100
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| Amount: | $3 million
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| Maturity: | May 27, 2022
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| Coupon: | 7.85% per year, payable monthly 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 monthly observation date
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| Initial levels: | 2,227.338 for Russell, 34,393.98 for Dow, 13,641.75 for Nasdaq
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| Coupon barrier levels: | 1,559.1366 for Russell, 24,075.786 for Dow, 9,549.225 for Nasdaq, 70% of initial levels
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| Knock-in levels: | 1,559.1366 for Russell, 24,075.786 for Dow, 9,549.225 for Nasdaq, 70% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 27
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.9%
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| Cusip: | 22552XLS0
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