Published on 8/16/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $850,000 contingent coupon callable yield notes on KraneShares Carbon
Chicago, Aug. 16 – Credit Suisse AG, London Branch, leveld $850,000 of contingent coupon callable yield notes due Dec. 27, 2023 tied to the performance of the KraneShares Global Carbon Strategy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 17% per year if the ETF closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes may be called at par plus any coupon otherwise due on any quarterly early redemption date.
The payout at maturity will be par unless the ETF finishes below its 60% knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the ETF’s initial level or the cash equivalent at the issuer’s option.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying ETF: | KraneShares Global Carbon Strategy ETF
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| Amount: | $850,000
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| Maturity: | Dec. 27, 2023
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| Coupon: | 17% per year, payable monthly if the underlying ETF closes at or above its coupon barrier level on related observation date
|
| Level: | Par
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| Payout at maturity: | Par unless the ETF finishes below its knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the ETF’s initial level or the cash equivalent at the issuer’s option
|
| Call: | At par plus any coupon otherwise due on any quarterly early redemption date
|
| Initial level: | $49.62
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| Coupon barrier level: | $34.734, 70% of initial level
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| Knock-in level: | $32.353, 65% of initial level
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| Pricing date: | Dec. 21, 2021
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| Settlement date: | Dec. 27, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.25%
|
| Cusip: | 22550MYV5
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