Published on 10/31/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.81 million contingent coupon autocallables on indexes, ETF
By Taylor Fox
New York, Nov. 2 – Credit Suisse AG, London Branch priced $3.81 million of contingent coupon autocallable yield notes due Oct. 5, 2022 linked to the lowest performing of the S&P 500 index, the Nasdaq-100 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 12.5% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be called at par if each asset closes above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any asset finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying assets: | S&P 500 index, the Nasdaq-100 index and the SPDR S&P Biotech ETF
|
Amount: | $3,807,000
|
Maturity: | Oct. 5, 2022
|
Coupon: | 12.5% per year, payable quarterly if each asset closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below its knock-in level, in which case full exposure to the losses of the least-performing asset
|
Call: | At par if each asset closes above initial level on any quarterly call date after six months
|
Initial levels: | 11,418.06 for Nasdaq, 3,363 for S&P, $111.43 for SPDR
|
Coupon barrier levels: | 7,992.642 for Nasdaq, 2,354.1 for S&P, $78.001 for SPDR; 70% of initial levels
|
Knock-in levels: | 6,850.836 for Nasdaq, 2,017.8 for S&P, $66.858 for SPDR; 60% of initial levels
|
Pricing date: | Sept. 30
|
Settlement date: | Oct. 5
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.9%
|
Cusip: | 22552WN68
|
|
© 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.