Published on 8/3/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $800,000 contingent coupon callable yield notes on three indexes
By William Gullotti
Buffalo, N.Y., Aug. 3 – Credit Suisse AG, London Branch, priced $800,000 of contingent coupon callable yield notes due June 9, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon due on any monthly observation date after one year.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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Amount: | $800,000
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Maturity: | June 9, 2026
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Coupon: | 6% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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Call option: | Callable in whole at par plus any coupon due on any monthly observation date after one year
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Initial levels: | 2,286.412 for Russell, 4,229.89 for S&P, 34,756.39 for Dow
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Coupon barrier levels: | 1,600.4884 for Russell, 2,960.923 for S&P, 24,329.473 for Dow, 70% of initial levels
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Knock-in levels: | 1,600.4884 for Russell, 2,960.923 for S&P, 24,329.473 for Dow, 70% of initial levels
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Pricing date: | June 4
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Settlement date: | June 9
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Agents: | Credit Suisse Securities (USA) LLC
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Fees: | 0.9%
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Cusip: | 22552XMR1
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