Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.46 million contingent coupon autocall yield notes on index, ETF
Chicago, June 8 – Credit Suisse AG, London Branch priced $1.46 million of contingent coupon autocallable yield notes due Nov. 26, 2025 linked to the lowest performing of the Nasdaq-100 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be called automatically at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 70% knock-in level, in which case investors will lose 1% for every 1% decline of the worst performer 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 autocallable yield notes
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| Underlying assets: | Nasdaq-100 index and iShares MSCI Emerging Markets ETF
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| Amount: | $1,462,000
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| Maturity: | Nov. 26, 2025
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| Coupon: | 8% per year, payable quarterly if each underlier closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below its knock-in level, in which case lose 1% for every 1% decline of worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each underlier closes at or above its initial level on any quarterly observation date after six months
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| Initial levels: | $50.92 for ETF, 16,573.34 for Nasdaq
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| Coupon barrier/knock-in levels: | $35.644 for ETF, 11,601.338 for Nasdaq; 70% of initial levels
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| Pricing date: | Nov. 22, 2021
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| Settlement date: | Nov. 26, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 22553P5V7
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