Published on 11/30/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.77 million contingent coupon callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Credit Suisse AG, London Branch, priced $3.77 million of contingent coupon callable yield notes due Nov. 25, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any semiannual observation date.
The payout at maturity will be par plus the final coupon 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
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $3,768,000
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| Maturity: | Nov. 25, 2024
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| Coupon: | 6% per year, payable semiannually if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon 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 due on any semiannual observation date
|
| Initial levels: | 2,343.161 for Russell, 4,697.96 for S&P
|
| Coupon barrier levels: | 1,640.2127 for Russell, 3,288.572 for S&P; 70% of initial levels
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| Knock-in levels: | 1,640.2127 for Russell, 3,288.572 for S&P; 70% of initial levels
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22553P2G3
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