Published on 5/30/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $549,000 contingent coupon callable yield notes on Russell, S&P
By Kiku Steinfeld
Chicago, May 31 – Credit Suisse AG, London Branch, priced $549,000 of contingent coupon callable yield notes due Nov. 5, 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 6.1% 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 early redemption 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $549,000
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| Maturity: | Nov. 5, 2024
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| Coupon: | 6.1% per year, payable semiannually if each underlying 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 plus the final coupon unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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| Call option: | Callable in whole at par plus any coupon due on any semiannual early redemption date
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| Initial levels: | 2297.191 for Russell, 4605.38 for S&P
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| Coupon barrier levels: | 1608.0337 for Russell, 3223.766 for S&P; 70% of initial levels
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| Knock-in levels: | 1608.0337 for Russell, 3223.766 for S&P; 70% of initial levels
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| Pricing date: | Oct. 29, 2021
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| Settlement date: | Nov. 5, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552XZF3
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