Published on 6/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on Robinhood
Chicago, June 16 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 10, 2024 linked to the stock performance of Robinhood Markets, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annualized rate of 27.6% if the stock closes above its coupon barrier, 60% of its initial level, on the observation date for the period.
The notes will be called at par plus the coupon if the shares close at or above 80% of the initial share price on any monthly autocall observation date after three months.
If the notes are not called, the payout at maturity will be par plus any final coupon unless the shares finish below their knock-in level, 50% of their initial price, in which case investors be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Robinhood Markets, Inc.
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| Amount: | $1,000,000
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| Maturity: | Dec. 10, 2024
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| Coupon: | 27.6% annual rate, payable monthly if stock closes above coupon barrier on observation day for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any final coupon unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par plus coupon if shares close at or above initial share price on any monthly autocall observation date after three months
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| Initial level: | $22.73
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| Coupon barrier level: | $13.638, 60% of initial level
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| Knock-in level: | $11.365, 50% of initial share price
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| Pricing date: | Dec. 7, 2021
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| Settlement date: | Dec. 10, 2021
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22553PBC2
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