Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.51 million barrier notes on indexes
By Taylor Fox
New York, Nov. 23 – Credit Suisse AG, London Branch priced $1.51 million of 0% barrier notes due Nov. 14, 2025 linked to the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worst performing index.
If any index falls but each index finishes at or above the 54.85% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying indexes: | S&P 500, Nasdaq-100 and Dow Jones industrial average
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Amount: | $1,514,000
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Maturity: | Nov. 14, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the worst performing index; if any index falls but all indexes finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worst performing index
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Initial index levels: | 3,550.50 for S&P, 29,157.97 for Dow, 11,830.39 for Nasdaq
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Knock-in levels: | 1,947.4493 for S&P, 15,993.1465 for Dow, 6,488.9689 for Nasdaq, 54.85% of initial levels
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Pricing date: | Nov. 9
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Settlement date: | Nov. 13
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.125%
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Cusip: | 22552WSB2
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