Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 autocallable coupon buffered notes on three stocks
Chicago, May 16 – Credit Suisse AG, London Branch priced $500,000 of 9.75% autocallable coupon buffered securities due Oct. 14, 2022 linked to the stocks of Discovery, Inc., Zoom Video Communications, Inc. and Qorvo, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless any stock finishes below its 75% buffer, in which case investors will lose 1.33% for each 1% loss of the least performing stock beyond the 25% buffer, payable as cash or shares at the issuer’s option.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable coupon buffered securities
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| Underlying stocks: | Discovery, Inc., Zoom Video Communications, Inc. and Qorvo, Inc.
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| Amount: | $500,000
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| Maturity: | Oct. 14, 2022
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| Coupon: | 9.75% annual rate, paid quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its buffer level, in which case 1.33% loss for each 1% decline of least performing stock beyond 25% buffer, payable as cash or shares at the issuer’s discretion
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| Call: | Automatically at par if each stock closes at or above initial level on a quarterly trigger observation date after six months
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| Initial levels: | $25.88 for Discovery, $253.65 for Zoom, $164.84 for Qorvo
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| Buffer levels: | $19.41 for Discovery, $190.2375 for Zoom, $123.63 for Qorvo; 75% of initial levels
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| Pricing date: | Oct. 7, 2021
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| Settlement date: | Oct. 15, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.85%
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| Cusip: | 22550MDE6
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