Published on 7/9/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, July 9 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due May 28, 2024 linked to the least performing of the stocks of Freeport-McMoRan Inc., Newmont Corp. and Vale SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 14% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Freeport-McMoRan Inc., Newmont Corp. and Vale SA
|
| Amount: | $500,000
|
| Maturity: | May 28, 2024
|
| Coupon: | 14% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
|
| Initial levels: | $41.32 for Freeport-McMoRan, $73.19 for Newmont, $20.70 for Vale
|
| Coupon barriers: | $24.792 for Freeport-McMoRan, $43.914 for Newmont, $12.42 for Vale; 60% of initial levels
|
| Knock-in levels: | $24.792 for Freeport-McMoRan, $43.914 for Newmont, $12.42 for Vale; 60% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552XM59
|
|
|
© 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.
