Published on 3/27/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.29 million contingent coupon callable yield notes on indexes, ETF
Chicago, March 29 – Credit Suisse AG, London Branch priced $3.29 million of contingent coupon callable yield notes due March 1, 2023 linked to the least performing of the VanEck Vectors Gold Miners ETF, the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 15% if each underlying asset closes at or above its coupon barrier level, 73.5% of its initial level, on the related observation date.
Credit Suisse may call the notes in whole but not in part at par on any quarterly call observation date.
The payout at maturity will be par unless any asset finishes below its 73.5% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying assets: | VanEck Vectors Gold Miners ETF, the Euro Stoxx 50 index and the MSCI Emerging Markets index
|
| Amount: | $3,285,000
|
| Maturity: | March 1, 2023
|
| Coupon: | 15% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its knock-in, in which case full exposure to any losses of the least-performing asset
|
| Call option: | Callable at par on any quarterly call observation date
|
| Initial levels: | 1376.76 for MSCI EM, 3705.99 for Stoxx, $33.70 for gold ETF
|
| Coupon barrier: | 1011.9186 for MSCI EM, 2723.90265 for Stoxx, $24.7695 for gold ETF; 73.5% of initial levels
|
| Knock-in levels: | 1011.9186 for MSCI EM, 2723.90265 for Stoxx, $24.7695 for gold ETF; 73.5% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22552XDD2
|
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