Published on 10/1/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.07 million contingent coupon autocallable yield notes on two stocks
By Kiku Steinfeld
Chicago, Oct. 3 – Credit Suisse AG, London Branch priced $1.07 million of contingent coupon autocallable yield notes due Feb. 17, 2026 linked to the least performing of the stocks of Gilead Sciences, Inc. and Medtronic plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 12.3% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly autocall observation date after one year.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 70% 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: | Gilead Sciences, Inc. and Medtronic plc
|
| Amount: | $1,065,000
|
| Maturity: | Feb. 17, 2026
|
| Coupon: | 12.3% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall observation date after one year
|
| Initial levels: | $62.07 For Gilead, $102.99 for Medtronic
|
| Coupon barriers: | $43.449 For Gilead, $72.093 for Medtronic; 70% of initial levels
|
| Knock-in levels: | $43.449 For Gilead, $72.093 for Medtronic; 70% of initial levels
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22553PJ34
|
|
|
© 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.
