Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $758,000 contingent coupon autocallable yield notes on Moderna
Chicago, May 16 – Credit Suisse AG, London Branch priced $758,000 of contingent coupon autocallable yield notes due Oct. 18, 2024 linked to Moderna, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 60% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon for that period at a rate of 14.1% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly trigger observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 60% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Moderna, Inc.
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| Amount: | $758,000
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| Maturity: | Oct. 18, 2024
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| Contingent coupon: | 14.1% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of stock
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly observation date
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| Initial price: | $321.50
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| Coupon barrier level: | $192.90, 60% of initial price
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| Knock-in level: | $192.90, 60% of initial price
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| Pricing date: | Oct. 13, 2021
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| Settlement date: | Oct. 18, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22552XYJ6
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