Published on 6/28/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.22 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, June 28 – Credit Suisse AG, London Branch, priced $1.22 million of contingent coupon callable yield notes due June 23, 2023 linked to the least performing of the S&P 500 index, 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 8.5% per year if each index closes at or above its coupon barrier level, 75% 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 after three months.
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: | S&P 500 index, Russell 2000 and Nasdaq-100
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| Amount: | $1,221,000
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| Maturity: | June 23, 2023
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| Coupon: | 8.5% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| 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
|
| Call option: | Callable in whole at par plus any coupon on any monthly observation date after three months
|
| Initial levels: | 4,166.45 for S&P, 2,237.74 for Russell, 14,049.58 for Nasdaq
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| Coupon barriers: | 3,124.8375 for S&P, 1678.30875 for Russell, 10,537.185 for Nasdaq; 75% of initial levels
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| Final barrier levels: | 2,916.515 for S&P, 1,566.4215 for Russell, 9,834.7061 for Nasdaq; 70% of initial levels
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| Pricing date: | June 18
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| Settlement date: | June 23
|
| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 22552XN66
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