Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on two stocks
Chicago, May 31 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due March 3, 2023 linked to the least performing of the stocks of Nvidia Corp. and YETI Holdings, 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 18.3% 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 monthly autocall observation date after three 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
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Nvidia Corp. and YETI Holdings, Inc.
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| Amount: | $500,000
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| Maturity: | March 3, 2023
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| Coupon: | 18.3% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| 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 monthly autocall observation date after three months
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| Initial levels: | $326.76 for Nvidia, $92.16 for YETI
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| Coupon barriers: | $196.056 for Nvidia, $55.296 for YETI; 60% of initial levels
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| Knock-in levels: | $196.056 for Nvidia, $55.296 for YETI; 60% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.65%
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| Cusip: | 22553P6L8
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