Published on 2/9/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $300,000 contingent coupon autocallable yield notes on Ford
Chicago, Feb. 9 – Credit Suisse AG, London Branch priced $300,000 of contingent coupon autocallable yield notes due May 2, 2024 linked to the stock performance of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 13.6% if the stock closes above its coupon barrier, 60% of its initial level, on the observation date for the period.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below their knock-in level, 60% of their initial price, in which case investors be fully exposed to the losses of the stock.
The placement agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $300,000
|
| Maturity: | May 2, 2024
|
| Coupon: | 13.6% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly trigger observation date
|
| Initial level: | $14.16
|
| Coupon barrier: | $8.496, 60% of initial share price
|
| Knock-in price: | $8.496, 60% of initial share price
|
| Pricing date: | April 29, 2022
|
| Settlement date: | May 4, 2022
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 22553PV71
|
|
|
© 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.
