Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.2 million contingent coupon autocallable yield notes on Amazon
By Taylor Fox
New York, Nov. 23 – Credit Suisse AG, London Branch priced $4.2 million of contingent coupon autocallable yield notes due Feb. 18, 2022 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual 10.3% rate if the stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any monthly trigger observation date starting May 13, 2021.
The payout at maturity will be par unless the stock finishes below its 70% knock-in level, 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
|
Underlying stock: | Amazon.com, Inc.
|
Amount: | $4,195,000
|
Maturity: | Feb. 18, 2022
|
Coupon: | 10.3% annual rate, payable monthly if the stock closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
|
Call: | Automatically at par if the stock closes at or above initial level on any monthly trigger observation date starting May 13, 2021
|
Initial price: | $3,128.81
|
Coupon barrier: | $2,190.167; 70% of initial levels
|
Knock-in level: | $2,190.167; 70% of initial levels
|
Pricing date: | Nov. 13
|
Settlement date: | Nov. 18
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.75%
|
Cusip: | 22552WSF3
|
|
© 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.