Published on 3/3/2022 in the Prospect News Structured Products Daily.
New Issue: CS sells $512,000 contingent coupon autocallable notes with upper threshold on stocks
By Kiku Steinfeld
Chicago, March 3 – Credit Suisse AG, London Branch priced $512,000 of contingent coupon autocallable yield notes with upper threshold feature due Sept. 16, 2024 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Intellia Therapeutics, Inc., ACM Research, Inc. and Fate Therapeutics, Inc.
The notes will pay a quarterly contingent coupon at an annual rate of 7.25% if each stock closes at or above its coupon barrier, 50% of its initial level, on the corresponding observation date, in which case any previously unpaid coupons will also be paid.
The notes will be called at par if each stock closes at or above 70% of its initial level on any quarterly observation date.
The payout at maturity will be par unless every stock declines and any stock declines by more than half of its initial value, 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
|
Issue: | Contingent coupon autocallable yield notes with upper threshold feature
|
Underlying stocks: | Intellia Therapeutics, Inc., ACM Research, Inc. and Fate Therapeutics, Inc.
|
Amount: | $512,000
|
Maturity: | Sept. 16, 2024
|
Coupon: | 7.25% per year, payable quarterly plus any previously unpaid coupons if each stock closes at or above its coupon barrier level on corresponding observation date
|
Price: | Par
|
Payout at maturity: | Par unless every stock finishes below its 100% upper threshold level and any stock finishes below its 50% knock-in level, in which case full exposure to the losses of the least-performing stock
|
Call: | Automatically at par if each stock closes at or above 70% of its initial level on any quarterly observation date
|
Initial levels: | $160.67 for Intellia, $107.13 for ACM, $68.43 for Fate
|
Upper threshold levels: | $160.67 for Intellia, $107.13 for ACM, $68.43 for Fate
|
Coupon barriers: | $80.335 for Intellia, $53.565 for ACM, $34.215 for Fate; 50% of initial levels
|
Knock-in levels: | $80.335 for Intellia, $53.565 for ACM, $34.215 for Fate; 50% of initial levels
|
Pricing date: | Sept. 10
|
Settlement date: | Sept. 15
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 3%
|
Cusip: | 22552XVE0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.