Published on 10/21/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.96 million contingent coupon autocallable yield notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Credit Suisse AG, London Branch priced $1.96 million of contingent coupon autocallable yield notes due Jan. 30, 2023 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every quarter, the notes pay a contingent coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date that period.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below its knock-in level, 75% of its initial level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,959,000
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| Maturity: | Jan. 30, 2023
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| Coupon: | 6% per year, payable quarterly if each underlying index closes at or above its coupon barrier level on observation date that period
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level
|
| Call option: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 14,956.97 for Nasdaq, 2,191.833 for Russell
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| Coupon barrier levels: | 11,217.7275 for Nasdaq, 1,643.87475 for Russell; 75% of initial levels
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| Knock-in levels: | 11,217.7275 for Nasdaq, 1,643.87475 for Russell; 75% of initial levels
|
| Pricing date: | July 27
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| Settlement date: | July 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.4%
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| Cusip: | 22552XRC9
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