Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.18 million contingent coupon autocallable yield notes on three stocks
Chicago, Feb. 27 – Credit Suisse AG, London Branch priced $1.18 million of contingent coupon autocallable yield notes due May 9, 2028 linked to the least performing of the stocks of Walt Disney Co., Starbucks Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.2% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly autocall observation date.
The payout at maturity will be par plus the final coupon if each stock finishes at or above its 50% knock-in level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Walt Disney Co., Starbucks Corp. and Alphabet Inc.
|
| Amount: | $1,175,000
|
| Maturity: | May 9, 2028
|
| Coupon: | 9.2% per year, payable quarterly if each stock closes at or above its coupon barrier level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each stock finishes at or above its knock-in barrier; otherwise, full exposure to decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall observation date
|
| Initial levels: | $116.19 for Disney, $81.64 for Starbucks, $2,445.22 for Alphabet
|
| Coupon barriers: | $58.095 for Disney, $40.82 for Starbucks, $1,222.61 for Alphabet; 50% of initial levels
|
| Knock-in levels: | $58.095 for Disney, $40.82 for Starbucks, $1,222.61 for Alphabet; 50% of initial levels
|
| Pricing date: | May 4, 2022
|
| Settlement date: | May 9, 2022
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22553PVW6
|
|
|
© 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.
