Published on 10/21/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.55 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Credit Suisse AG, London Branch priced $1.55 million of contingent coupon autocallable yield notes due July 30, 2026 linked to the least performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 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 5.5% if each index closes at or above its coupon barrier, 80% 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 after one year.
The payout at maturity will be par plus the final coupon unless any index finishes below its 80% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
The agent is Incapital LLC.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
Amount: | $1,551,000
|
Maturity: | July 30, 2026
|
Coupon: | 5.5% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon 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 after one year
|
Initial levels: | 4,401.46 for S&P, 2,191.833 for Russell, 14,956.97 for Nasdaq
|
Coupon barriers: | 3,521.168 for S&P, 1,753.4664 for Russell, 11,965.576 for Nasdaq; 80% of initial levels
|
Knock-in levels: | 3,521.168 for S&P, 1,753.4664 for Russell, 11,965.576 for Nasdaq; 80% of initial levels
|
Pricing date: | July 27
|
Settlement date: | July 30
|
Agent: | Incapital LLC
|
Fees: | 4%
|
Cusip: | 22552XQF3
|
|
© 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.