Published on 3/18/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.58 million contingent coupon callable yield notes on index, ETF
By Kiku Steinfeld
Chicago, March 18 – Credit Suisse AG, London Branch priced $1.58 million of contingent coupon callable yield notes due Sept. 23, 2024 linked to the lowest 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 semiannual coupon at an annualized rate of 6.75% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
At the issuer’s option, the notes may be called at par on any semiannual observation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 70% knock-in level, in which case investors will be fully exposed to the decline of the worst performer 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 assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $1,583,000
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| Maturity: | Sept. 23, 2024
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| Coupon: | 6.75% per year, payable semiannually if each underlier closes at or above its barrier level on observation date
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| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlier finishes below its knock-in level, in which case full exposure to any losses of the worst performer
|
| Call: | At par on any semiannual observation date
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| Initial levels: | $51.37 for ETF, 2236.871 for Russell
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| Coupon barrier/knock-in levels: | $35.959 for ETF, 1565.8097 for Russell; 70% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.95%
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| Cusip: | 22552XUB7
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