Published on 8/23/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.25 million contingent coupon autocallable yield notes on indexes
By William Gullotti
Buffalo, N.Y., Aug. 23 – Credit Suisse AG, London Branch priced $4.25 million of contingent coupon autocallable yield notes due Aug. 22, 2023 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.65% 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 trigger observation date.
The payout at maturity will be par unless any index finishes below its 70% 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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $4,250,000
|
| Maturity: | Aug. 22, 2023
|
| Coupon: | 10.65% 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 decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly trigger observation date
|
| Initial levels: | 15,002.83 for Nasdaq, 2,177.173 for Russell, 4,448.08 for S&P
|
| Coupon barriers: | 11,252.1225 for Nasdaq, 1,632.87975 for Russell, 3,336.06 for S&P; 75% of initial levels
|
| Knock-in levels: | 10,501.981 for Nasdaq, 1,524.0211 for Russell, 3,113.656 for S&P; 70% of initial levels
|
| Strike date: | Aug. 17
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552XTV5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
