Published on 6/28/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $389,000 contingent coupon callable yield notes on index, ETF
By Kiku Steinfeld
Chicago, June 28 – Credit Suisse AG, London Branch priced $389,000 of contingent coupon callable yield notes due June 24, 2024 linked to the least performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annualized rate of 7% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
Credit Suisse may call the notes in whole but not in part at par on any semiannual call observation date.
The payout at maturity will be par unless any asset finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying assets: | Russell 2000 index and the iShares MSCI Emerging Markets ETF
|
| Amount: | $389,000
|
| Maturity: | June 24, 2024
|
| Coupon: | 7% per year, payable semiannually if each underlying asset closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its knock-in, in which case full exposure to any losses of the least-performing asset
|
| Call option: | Callable at par on any semiannual call observation date
|
| Initial levels: | 2237.745 for Russell, $54.23 for ETF
|
| Coupon barrier: | 1566.4215 for Russell, $37.961 for ETF; 70% of initial levels
|
| Knock-in levels: | 1566.4215 for Russell, $37.961 for ETF; 70% of initial levels
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22552XM91
|
|
|
© 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.
