Published on 10/13/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.81 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Oct. 13 – Credit Suisse AG, London Branch priced $3.81 million of contingent coupon callable yield notes due July 30, 2024 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a biannual coupon at an annualized rate of 5.35% if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes will be callable at par on any biannual call date.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $3,814,000
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Maturity: | July 30, 2024
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Coupon: | 5.35% per year, payable biannually if each index closes at or above its coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to the losses of the least-performing index
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Call: | At par on any biannual call date
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Initial index levels: | 2209.649 for Russell, 4411.79 for S&P, 15111.79 for Nasdaq
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Coupon barrier levels: | 1325.7894 for Russell, 2647.074 for S&P, 9067.074 for Nasdaq; 60% of initial levels
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Barrier levels: | 1325.7894 for Russell, 2647.074 for S&P, 9067.074 for Nasdaq; 60% of initial levels
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Pricing date: | July 23
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Settlement date: | July 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22552XPK3
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