By Kiku Steinfeld
Chicago, Sept. 19 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Jan. 29, 2027 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 Biotech ETF and the Energy Select Sector SPDR fund.
Contingent coupons are payable quarterly at an annual rate of 9.5% if each asset closes above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be called at par if the shares of the least performing asset close at or above its initial price on any quarterly trigger observation date after one year.
The payout at maturity will be par unless any of the assets finishes below its 60% 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying assets: | SPDR S&P Biotech ETF and Energy Select Sector SPDR fund
|
| Amount: | $1 million
|
| Maturity: | Jan. 29, 2027
|
| Coupon: | 9.5% per year, payable quarterly if each asset closes above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset 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 after one year
|
| Initial prices: | $88.58 for Biotech ETF, $65.63 for Energy fund
|
| Coupon barriers: | $53.148 for Biotech ETF, $39.378 for Energy fund; 60% of initial levels
|
| Knock-in levels: | $53.148 for Biotech ETF, $39.378 for Energy fund; 60% of initial levels
|
| Pricing date: | Jan. 28, 2022
|
| Settlement date: | Jan. 31, 2022
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.35%
|
| Cusip: | 22553PH69
|
|
|
|
|
© 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.
