Published on 4/28/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.88 million autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, April 28 – Credit Suisse AG, London Branch priced $3.88 million of autocallable yield notes due Jan. 26, 2023 linked to the lowest performing of the stocks of Apple Inc., Amazon.com, Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 13.25%.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Netflix, Inc., Tesla, Inc.
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| Amount: | $3.88 million
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| Maturity: | Jan. 26, 2023
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| Coupon: | 13.25% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to the decline of the least performing stock from its initial price
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| Call: | Notes will be automatically called at par plus the coupon if each stock closes at or above initial price on any quarterly call observation date after six months
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| Initial prices: | $162.41 for Apple, $2,852.86 for Amazon, $397.50 for Netflix, $943.90 for Tesla
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| Knock-in levels: | $89.3255 for Apple, $1,569.073 for Amazon, $218.625 for Netflix, $519.145 for Tesla; 55% of initial prices
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22553PFJ3
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