Published on 6/5/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $995,000 contingent coupon autocallable yield notes on three indexes
By Kiku Steinfeld
Chicago, June 6 – Credit Suisse AG, London Branch priced $995,000 of contingent coupon autocallable yield notes due Nov 20, 2023 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the annual rate of 6.47% unless any index closes below its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial index level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least performing index.
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 indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
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Amount: | $995,000
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Maturity: | Nov. 20, 2023
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Coupon: | Each quarter, notes pay contingent coupon at rate of 6.47% per year unless any index closes below barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
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Call: | At par if each index closes at or above initial index level on any quarterly observation date
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Initial index levels: | 4401.49 for Euro Stoxx 50, 4700.90 for S&P 500 and 2405.024 for Russell 2000
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Barrier levels: | 3081.043 for Euro Stoxx 50, 3290.63 for S&P 500 and 1683.5168 for Russell 2000; 70% of initial levels
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Pricing date: | Nov. 16, 2021
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Settlement date: | Nov. 19, 2021
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22553P4S5
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