Published on 9/1/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.6 million contingent coupon autocallable yield notes on two stocks
Chicago, Sept. 1 – Credit Suisse AG, London Branch priced $1.6 million of contingent coupon autocallable yield notes due Feb. 28, 2023 linked to the least performing of the stocks of Southwestern Energy Co. and Trade Desk, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 30%.
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 61% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock, payable in shares or cash at the issuer’s option.
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: | Southwestern Energy Co. and Trade Desk, Inc.
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| Amount: | $1,600,000
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| Maturity: | Feb. 28, 2023
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| Coupon: | 30% annual rate, payable monthly
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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, payable in shares or cash at issuer’s option
|
| 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: | $7.64 for Southwestern, $63.41 for Trade Desk
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| Knock-in levels: | $4.6604 for Southwester, $38.6801 for Trade Desk; 61% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22550MF95
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