Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on DocuSign
Chicago, June 15 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 9, 2026 linked to the stock performance of DocuSign, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 11% if the stock closes above its coupon barrier, 60% of its initial level, on the observation date for the period.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly autocall observation date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below their knock-in level, 60% of their initial price, in which case investors be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | DocuSign, Inc.
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| Amount: | $1,000,000
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| Maturity: | Dec. 9, 2026
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| Coupon: | 11% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par plus coupon if shares close at or above initial share price on any quarterly autocall observation date after one year
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| Initial level: | $135.09
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| Coupon barrier/knock-in price: | $81.054, 60% of initial share price
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| Pricing date: | Dec. 6, 2021
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| Settlement date: | Dec. 9, 2021
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.35%
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| Cusip: | 22553PBD0
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