Published on 1/7/2022 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million contingent coupon callable yield notes on three indexes
Chicago, Jan. 7 – Credit Suisse AG, London Branch, priced $1.04 million of contingent coupon callable yield notes due Jan. 8, 2024 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 8% per year if each index closes at or above its coupon barrier level, 75% 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 six months.
The payout at maturity will be par plus any final coupon due if each index finishes at or above its 65% knock-in level.
Otherwise, investors will be exposed to the 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 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: | $1,035,000
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Maturity: | Jan. 8, 2024
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Coupon: | 8% per year, payable monthly if each underlying index 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 plus any final coupon if each index finishes at or above knock-in barrier; otherwise, full exposure to decline of worst performer from initial level
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Call option: | Callable in whole at par plus any coupon due on any monthly observation date after six months
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Initial index levels: | 4019.87 for S&P, 2253.903 for Russell, 33,153.21 for Dow
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Coupon barrier levels: | 3014.9025 for S&P, 1690.42725 for Russell, 24864.9075 for Dow, 75% of initial levels
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Knock-in levels: | 2612.9155 for S&P, 1465.03695 for Russell, 21549.5865 for Dow, 65% of initial levels
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Pricing date: | April 1
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Settlement date: | April 7
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.9%
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Cusip: | 22552XHF3
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