Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on two stocks
Chicago, May 16 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Oct. 18, 2024 linked to the lowest performing of the stocks of Lucid Group, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 14.3% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above 80% of its initial level on any monthly autocall observation date after three months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing 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 stocks: | Lucid Group, Inc. and Uber Technologies, Inc.
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| Amount: | $1,000,000
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| Maturity: | Oct. 18, 2024
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| Coupon: | 14.3% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above 80% of initial level on any monthly autocall observation date after three months
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| Initial levels: | $22.59 for Lucid, $46.41 for Uber
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| Coupon barriers: | $13.554 for Lucid, $27. 846 for Uber; 60% of initial levels
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| Knock-in levels: | $11.295 for Lucid, $23.205 for Uber; 50% of initial levels
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| Pricing date: | Oct. 13, 2021
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| Settlement date: | Oct. 18, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22552XYG2
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