Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million 12.5% yield notes on Chewy, Disney, Palantir
By William Gullotti
Buffalo, N.Y., Nov. 1 – Credit Suisse AG, London Branch, priced $2 million of 12.5% yield notes due Nov. 1, 2023 linked to the least performing of the stocks of Chewy, Inc., Walt Disney Co. and Palantir Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Yield notes
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Underlying stocks: | Chewy, Inc., Walt Disney Co., Palantir Technologies Inc.
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Amount: | $2 million
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Maturity: | Nov. 1, 2023
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Coupon: | 12.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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Initial levels: | $67.99 for Chewy, $172.04 for Disney, $25.52 for Palantir
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Knock-in levels: | $40.794 for Chewy, $103.224 for Disney, $15.312 for Palantir; 60% of initial levels
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Strike date: | Oct. 26
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22552XZS5
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