Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $250,000 autocallable coupon buffered notes on four stocks
Chicago, Feb. 26 – Credit Suisse AG, London Branch priced $250,000 of 10.45% autocallable coupon buffered securities due Aug. 6, 2021 linked to the stocks of Tesla, Inc., Bank of America Corp., UnitedHealth Group Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock’s final level is less than 70% of its initial level, in which case investors will be fully exposed to the losses of the worst performing stock, payable either in shares or cash based on the election of the issuer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable coupon buffered securities
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| Underlying stocks: | Tesla, Inc., Bank of America Corp., UnitedHealth Group Inc. and Apple Inc.
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| Amount: | $250,000
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| Maturity: | Aug. 6, 2021
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| Coupon: | 10.45%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock’s final level is less than 70% of its initial level, in which case investors will be fully exposed to the losses of the worst performing stock, payable either in shares or cash based on the election of the issuer
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial levels: | $640.81 for Tesla, $33.48 for Bank of America, $280.98 for UnitedHealth and $323.87 for Apple
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| Buffer levels: | $448.567 for Tesla, $23.436 for Bank of America, $196.686 for UnitedHealth and $226.709 for Apple, 70% of initial levels
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 6
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22550MAG4
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