Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.33 million contingent coupon autocallable yield notes on stocks
Chicago, May 3 – Credit Suisse AG, London Branch priced $1.33 million of contingent coupon autocallable yield notes due March 22, 2027 linked to the least performing of the stocks of Apple Inc., Amazon.com, Inc., Bank of America Corp. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 8% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date after one year.
The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Bank of America Corp. and Home Depot, Inc.
|
| Amount: | $1,331,000
|
| Maturity: | March 22, 2027
|
| Coupon: | 8% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date after one year
|
| Initial levels: | $124.76 for Apple, $3,135.73 for Amazon, $37.95 for BofA and $280.03 for Home Depot
|
| Coupon barriers: | $74.856 for Apple, $1,881.438 for Amazon, $22.77 for BofA and $168.018 for Home Depot; 60% of initial levels
|
| Knock-in levels: | $62.38 for Apple, $1,567.865 for Amazon, $18.975 for BofA and $140.015 for Home Depot; 50% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agent: | Incapital LLC
|
| Fees: | 4.25%
|
| Cusip: | 22552XGF4
|
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