Published on 8/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $554,000 contingent coupon autocallable yield notes on car stocks
Chicago, Aug. 16 – Credit Suisse AG, London Branch priced $554,000 of contingent coupon autocallable yield notes due Dec. 27, 2024 linked to the least performing of the stocks of Ford Motor Co., General Motors Co. and Tesla, 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 18.5% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly autocall observation date after three months.
The payout at maturity will be par plus the final coupon if each stock finishes at or above its 50% knock-in level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $554,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 18.5% per year, payable monthly if each stock closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above its knock-in barrier; otherwise, full exposure to decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly autocall observation date after three months
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| Initial levels: | $19.61 for Ford, $54.79 for GM, $938.53 for Ford
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| Coupon barriers: | $9.805 for Ford, $27.395 for GM, $469.265 for Ford; 50% of initial levels
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| Knock-in levels: | $9.805 for Ford, $27.395 for GM, $469.265 for Ford; 50% of initial levels
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| Pricing date: | Dec. 21, 2021
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| Settlement date: | Dec. 27, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22553PCH0
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