Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $601,000 contingent coupon autocallable yield notes on three indexes
By William Gullotti
Buffalo, N.Y., July 16 – Credit Suisse AG, London Branch priced $601,000 of contingent coupon autocallable yield notes due July 16, 2026 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 7.05% if each index 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 index closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
Amount: | $601,000
|
Maturity: | July 16, 2026
|
Coupon: | 7.05% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to the decline of the least-performing index from its initial level
|
Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly trigger observation date
|
Initial levels: | 14,877.89 for Nasdaq, 2,281.825 for Russell, 4,384.63 for S&P
|
Coupon barriers: | 10,414.523 for Nasdaq, 1,597.2775 for Russell, 3,069.241 for S&P; 70% of initial levels
|
Knock-in levels: | 10,414.523 for Nasdaq, 1,597.2775 for Russell, 3,069.241 for S&P; 70% of initial levels
|
Strike date: | July 12
|
Pricing date: | July 13
|
Settlement date: | July 16
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.6%
|
Cusip: | 22552XQJ5
|
|
|
© 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.