Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.03 million contingent coupon autocallable yield notes on three stocks
Chicago, June 8 – Credit Suisse AG, London Branch priced $1.03 million of contingent coupon autocallable yield notes due Nov. 29, 2024 linked to the least performing of the stocks of Duke Energy Corp., NextEra Energy, Inc. and Sempra Energy, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 8.5% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par plus any final coupon if each stock finishes at or above its 70% knock-in level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Duke Energy Corp., NextEra Energy, Inc. and Sempra Energy
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Amount: | $1,030,000
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Maturity: | Nov. 29, 2024
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Coupon: | 8.5% per year, payable monthly if each stock 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 any final coupon if each stock finishes at or above its knock-in barrier; otherwise, full exposure to decline of the worst performer from its initial level
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly trigger observation date after six months
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Initial levels: | $99.28 for Duke, $86.09 for NextEra, $121.68 for Sempra
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Coupon barriers: | $69.496 for Duke, $60.263 for NextEra, $85.176 for Sempra; 70% of initial levels
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Knock-in levels: | $69.496 for Duke, $60.263 for NextEra, $85.176 for Sempra; 70% of initial levels
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Pricing date: | Nov. 26, 2021
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Settlement date: | Nov. 30, 2021
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22553P6Q7
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