New Issue: Credit Suisse sells $636,000 contingent coupon autocallable yield notes on stocks

By Taylor Fox

New York, Dec. 30 – Credit Suisse AG, London Branch priced $636,000 of contingent coupon autocallable yield notes due Nov. 28, 2025 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The stocks are BigCommerce Holdings, Inc., Palantir Technologies Inc. and Unity Software Inc.

The notes will pay a monthly contingent coupon at an annual rate of 31.5% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.

The notes will be called at par if each stock closes at or above its trigger level, 90% of the initial level, on any quarterly trigger observation date starting Nov. 24, 2021.

The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.

The agent is Credit Suisse Securities (USA) LLC.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying stocks:	BigCommerce Holdings, Inc., Palantir Technologies Inc. and Unity Software Inc.
Amount:	$636,000
Maturity:	Nov. 28, 2025
Coupon:	31.5% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
Price:	Par
Payout at maturity:	Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
Call:	Automatically at par if each stock closes at or above trigger level on any quarterly trigger observation date starting Nov. 24, 2021
Initial prices:	$80.55 for BigCommerce, $23.82 for Palantir and $129.04 for Unity
Coupon barriers:	$48.33 for BigCommerce, $14.292 for Palantir and $77.424 for Unity; 60% of initial levels
Knock-in levels:	$40.275 for BigCommerce, $11.91 for Palantir and $64.52 for Unity; 50% of initial levels
Trigger levels:	$72.495 for BigCommerce, $21.438 for Palantir and $116.136 for Unity, 90% of initial levels
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22552WTA3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.