Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4 million contingent coupon autocallable yield notes on indexes
By William Gullotti
Buffalo, N.Y., Aug. 19 – Credit Suisse AG, London Branch sold $4 million of contingent coupon autocallable yield notes due May 13, 2022 linked to the least performing of the S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.45% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $4,000,000
|
| Maturity: | May 13, 2022
|
| Coupon: | 9.45% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 4188.43 for S&P, 2212.696 for Russell, 34742.82 for Dow
|
| Coupon barrier levels: | 3141.3225 for S&P, 1659.522 for Russell, 26057.115 for Dow; 75% of initial levels
|
| Knock-in levels: | 3141.3225 for S&P, 1659.522 for Russell, 26057.115 for Dow; 75% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 13
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552XL27
|
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