Published on 5/9/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.7 million contingent coupon callable yield notes on three stocks
By Kiku Steinfeld
Chicago, May 9 – Credit Suisse AG, London Branch priced $1.7 million of contingent coupon callable yield notes due Oct. 7, 2024 linked to the common stocks of General Electric Co., Home Depot, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 70% if each stock closes at or above its barrier level, 70% of its initial level, on a monthly observation date.
The notes may be called on any quarterly call observation date after six months.
The payout at maturity will be par unless each stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying shares: | General Electric Co., Home Depot, Inc. and JPMorgan Chase & Co.
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| Amount: | $1.7 million
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| Maturity: | Oct. 7, 2024
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| Coupon: | 13.65% per year, payable monthly if each stock closes at or above its barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless each stock finishes below its knock-in level, in which case full exposure to any losses
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| Call option: | At par on any quarterly call observation date after six months
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| Initial prices: | $163.69 for JPMorgan, $103.03 for GE, $328.26 for Home Depot
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| Barriers: | $114.583 for JPMorgan, $72.121 for GE; $229.782 for Home Depot; 70% of initial prices
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| Knock-in levels: | $98.214 for JPMorgan, $61.818 for GE; $196.956 for Home Depot; 60% of initial prices
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 22552XWH2
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