Published on 4/19/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.39 million 4.7% trigger callable yield notes on two iShares ETFs
By William Gullotti
Buffalo, N.Y., April 19 – Credit Suisse AG, London branch priced $3.39 million of 4.7% trigger callable yield notes due July 19, 2023 linked to the iShares S&P 500 Value ETF and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly coupon payment date after three months.
The payout at maturity will be par unless the lowest performing ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to that ETF’s decline from its initial level.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agent.
Issuer: | Credit Suisse AG, London branch
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Issue: | Trigger callable yield notes
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Underlying funds: | iShares S&P 500 Value ETF, iShares Russell 2000 Value ETF
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Amount: | $3,394,000
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Maturity: | July 19, 2023
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Coupon: | 4.7%, payable monthly
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Price: | Par of $10
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Payout at maturity: | If the lowest performing ETF finishes at or above downside threshold level, par; otherwise, full exposure to decline of lowest performing ETF from initial level
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Call option: | At par on any monthly call date after three months
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Initial levels: | $155.64 for S&P ETF, $157.94 for Russell ETF
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Downside threshold levels: | $93.38 for S&P ETF, $94.76 for Russell ETF; 60% of initial levels
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Pricing date: | April 14
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Settlement date: | April 20
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Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 22552J476
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