Published on 12/2/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $598,000 contingent coupon autocallable yield notes on Amazon
By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – Credit Suisse AG, London Branch priced $598,000 of contingent coupon autocallable yield notes due Nov. 24, 2023 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 quarterly contingent coupon at an annual 9% rate if the stock closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless the stock finishes below its 75% 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
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Issue: | Contingent coupon autocallable yield notes
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Underlying stock: | Amazon.com, Inc.
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Amount: | $598,000
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Maturity: | Nov. 24, 2023
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Coupon: | 9% annual rate, payable quarterly if the stock closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
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Call: | Automatically at par if the stock closes at or above initial level on any quarterly trigger observation date
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Initial price: | $3,099.40
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Coupon barrier: | $2,324.55; 75% of initial levels
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Knock-in level: | $2,324.55; 75% of initial levels
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 22552WTT2
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