Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $760,000 contingent coupon autocallable yield notes on five stocks
Chicago, June 15 – Credit Suisse AG, London Branch priced $760,000 of contingent coupon autocallable yield notes due Dec. 9, 2024 linked to the least performing of the stocks of Apple Inc., Amazon.com, Inc., Lowe’s Cos, Inc., Lam Research Corp. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 12% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly autocall observation date after six months.
The payout at maturity will be par plus the final coupon if all five stocks close at least above their 60% knock-in level. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Lowe’s Cos, Inc., Lam Research Corp. and Visa Inc.
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| Amount: | $760,000
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| Maturity: | Dec. 9, 2024
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| Coupon: | 12% per year, payable monthly if each stock closes at or above coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if each stock closes above knock-in level; otherwise, full exposure to decline of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall date after six months
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| Initial levels: | $161.84 for Apple, $3,389.79 for Amazon, $248.69 for Lowe’s, $661.47 for Lam, $196.32 for Visa
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| Coupon barriers: | $97.104 for Apple, $2,033.874 for Amazon, $149.214 for Lowe’s, $396.882 for Lam, $117.792 for Visa; 60% of initial levels
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| Knock-in levels: | $97.104 for Apple, $2,033.874 for Amazon, $149.214 for Lowe’s, $396.882 for Lam, $117.792 for Visa; 60% of initial levels
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| Pricing date: | Dec. 6, 2021
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| Settlement date: | Dec. 9, 2021
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| Agent: | Incapital LLC
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| Fees: | 3%
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| Cusip: | 22553PBE8
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