Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on indexes
Chicago, May 3 – Credit Suisse AG, London Branch, priced $500,000 of contingent coupon callable yield notes due March 22, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 5.9% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any monthly observation date after three months.
The payout at maturity will be par unless any index finishes below its 55% 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
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 and Nasdaq-100
|
| Amount: | $500,000
|
| Maturity: | March 22, 2023
|
| Coupon: | 5.9% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon on any monthly observation date after three months
|
| Initial levels: | 2336.392 for Russell, 3974.12 for S&P, 13202.38 for Nasdaq
|
| Coupon barrier levels: | 1401.8352 for Russell, 2384.472 for S&P, 7921.428 for Nasdaq, 60% of initial levels
|
| Knock-in levels: | 1285.0156 for Russell, 2185.766 for S&P, 7261.309 for Nasdaq, 55% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.9%
|
| Cusip: | 22552XGN7
|
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