Published on 8/13/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $10,000 contingent coupon autocallable yield notes on three stocks
By William Gullotti
Buffalo, N.Y., Aug. 13 – Credit Suisse AG, London Branch priced $10,000 of contingent coupon autocallable yield notes due June 18, 2024 linked to the least performing of the stocks of CarMax, Inc., Las Vegas Sands Corp. and Whirlpool Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.45% 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 coupon if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% 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: | CarMax, Inc., Las Vegas Sands Corp., Whirlpool Corp.
|
| Amount: | $10,000
|
| Maturity: | June 18, 2024
|
| Coupon: | 10.45% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly trigger observation date after six months
|
| Initial levels: | $118.83 for CarMax, $54.29 for Vegas Sands, $221.11 for Whirlpool
|
| Coupon barriers: | $71.298 for CarMax, $32.574 for Vegas Sands, $132.666 for Whirlpool; 60% of initial levels
|
| Knock-in levels: | $71.298 for CarMax, $32.574 for Vegas Sands, $132.666 for Whirlpool; 60% of initial levels
|
| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4%
|
| Cusip: | 22552XME0
|
|
|
© 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.
