Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $508,000 contingent coupon autocallable yield notes on three stocks
Chicago, May 31 – Credit Suisse AG, London Branch priced $508,000 of contingent coupon autocallable yield notes due Nov. 18, 2024 linked to the least performing of the stocks of Lam Research Corp., UiPath, Inc. and SoFi Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 26.25% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par plus any final coupon if each stock finishes at or above its 50% knock-in level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Lam Research Corp., UiPath, Inc. and SoFi Technologies, Inc.
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| Amount: | $508,000
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| Maturity: | Nov. 18, 2024
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| Coupon: | 26.25% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par plus any final coupon if each stock finishes at or above its knock-in barrier; otherwise, full exposure to decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial levels: | $605.78 for Lam, $56.01 for UiPath, $20.42 for SoFi
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| Coupon barriers: | $363.468 for Lam, $33.606 for UiPath, $12.252 for SoFi; 60% of initial levels
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| Knock-in levels: | $302.89 for Lam, $28.005 for UiPath, $10.21 for SoFi; 50% of initial levels
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| Pricing date: | Nov. 10, 2021
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| Settlement date: | Nov. 16, 2021
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| Agent: | Incapital LLC
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| Fees: | 3%
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| Cusip: | 22553P4H9
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