Chicago, June 13 – Credit Suisse AG, London Branch priced $763,000 of contingent coupon autocallable yield notes due Dec. 5, 2024 linked to the least performing of two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The underliers are the SPDR S&P Regional Banking ETF and the Technology Select Sector SPDR fund.
Contingent coupons are payable quarterly at an annual rate of 10.35% if each fund closes above its coupon barrier, 75% of its initial level, on the related observation date.
The notes will be called at par if the shares of the least performing fund close at or above its initial price on any quarterly trigger observation date.
The payout at maturity will be par unless any of the funds finishes below its 75% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying ETFs: | SPDR S&P Regional Banking ETF and Technology Select Sector SPDR fund
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| Amount: | $763,000
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| Maturity: | Dec. 5, 2024
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| Coupon: | 10.35% per year, payable quarterly if each fund closes above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below knock-in price, in which case full exposure to losses of worst performing underlying
|
| Call: | At par plus the coupon if all shares close at or above initial share price on any quarterly trigger observation date
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| Initial prices: | $69.81 for Banking, $168.72 for Technology
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| Coupon barriers: | $52.3575 for Energy, $126.54 for Technology; 75% of initial levels
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| Knock-in levels: | $52.3575 for Energy, $126.54 for Technology; 75% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.369%
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| Cusip: | 22553P6B0
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