Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.02 million contingent coupon callable yield notes on four stocks
Chicago, June 23 – Credit Suisse AG, London Branch, priced $1.02 million of contingent coupon callable yield notes due Dec. 15, 2023 to the least performing of the stocks of Amazon.com, Inc., Cisco Systems, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 15.5% per year if each stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any monthly early redemption date after three months.
The payout at maturity will be par unless any stock finishes below its 70% knock-in price, in which case investors will be exposed to the decline of the least-performing stock from its initial price.
Credit Suisse Securities LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stocks: | Amazon.com, Inc., Cisco Systems, Inc., Target Corp. and Walmart Inc.
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| Amount: | $1,018,000
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| Maturity: | Dec. 15, 2023
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| Coupon: | 15.5% per year, payable monthly if each underlying stock closes at or above its coupon barrier price on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in price, in which case investors will be exposed to the decline of the least-performing stock from its initial price
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| Call option: | Par plus any contingent coupon on any monthly early redemption date after three months
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| Initial prices: | $3,444.24 for Amazon, $59.25 for Cisco, $238.18 for Target, $141.03 for Walmart
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| Coupon barrier level: | $2,410.968 for Amazon, $41.475 for Cisco, $166.726 for Target, $98.721 for Walmart; 70% of initial prices
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| Knock-in prices level: | $2,410.968 for Amazon, $41.475 for Cisco, $166.726 for Target, $98.721 for Walmart; 70% of initial prices
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Placement agent: | Credit Suisse Securities LLC
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| Fees: | 0.75%
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| Cusip: | 22553PBH1
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