Published on 8/2/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $8.56 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Aug. 2 – Credit Suisse AG, London Branch priced $8.56 million of contingent coupon callable yield notes due July 22, 2024 linked to the least performing of Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 8% if each index closes at or above its threshold level, 70% of its initial level, on the observation date for that period.
The notes may be called at par on any monthly observation date after three months.
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 callable yield notes
|
| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
|
| Amount: | $8,561,000
|
| Maturity: | July 22, 2024
|
| Coupon: | 8% per year, payable monthly 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 losses of the least-performing index
|
| Call option: | At par on any monthly observation date after three months
|
| Initial levels: | 4327.16 for S&P, 2163.238 for Russell and 14681.38 for Nasdaq
|
| Coupon barrier levels: | 3029.012 for S&P, 1514.2666 for Russell and 10276.966 for Nasdaq; 70% of initial levels
|
| Knock-in levels: | 3029.012 for S&P, 1514.2666 for Russell and 10276.966 Nasdaq; 70% of initial levels
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22552XQ89
|
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