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Published on 1/4/2021 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse sells $735,000 contingent coupon autocallable yield notes on stocks

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Credit Suisse AG, London Branch priced $735,000 of contingent coupon autocallable yield notes due Dec. 29, 2021 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The stocks are United Rentals, Inc., Marriott International, Inc., Biogen Inc. and Moderna, Inc.

The notes will pay a quarterly contingent coupon at an annual rate of 18.15% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level, on any quarterly trigger observation date.

The payout at maturity will be par 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
Issue:Contingent coupon autocallable yield notes
Underlying stocks:United Rentals, Inc., Marriott International, Inc., Biogen Inc. and Moderna ,Inc.
Amount:$735,000
Maturity:Dec. 29, 2021
Coupon:18.15% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
Price:Par
Payout at maturity:Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
Call:Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
Initial prices:$227.54 for United Rentals, $128.82 for Marriott, $249.62 for Biogen and $140.23 for Moderna
Coupon barriers:$136.524 for United Rentals, $77.292 for Marriott, $149.772 for Biogen and $84.138 for Moderna; 60% of initial levels
Knock-in levels:$136.524 for United Rentals, $77.292 for Marriott, $149.772 for Biogen and $84.138 for Moderna; 60% of initial levels
Pricing date:Dec. 21
Settlement date:Dec. 29
Agent:Credit Suisse Securities (USA) LLC
Fees:2.25%
Cusip:22552WZL2

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