Published on 2/25/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.89 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Feb. 25 – Credit Suisse AG, London Branch priced $2.89 million of contingent coupon callable yield notes due Feb. 20, 2024 linked to the lowest performing of the Nasdaq-100, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7.15% if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable at par on any monthly call date after six months.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 index and S&P 500 index
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| Amount: | $2,894,000
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| Maturity: | Feb. 20, 2024
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| Coupon: | 7.15% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | At par on any monthly call date after six months
|
| Initial level: | 2,272.891 for Russell, 3,932.59 for S&P, 13773.77 for Nasdaq
|
| Coupon barriers: | 1704.66825 for Russell, 2949.4425 for S&P, 10330.3275 for Nasdaq; 75% of initial levels
|
| Knock-in levels: | 1477.15915 for Russell, 2556.1835 for S&P, 8952.9505 for Nasdaq; 65% of initial levels
|
| Pricing date: | Feb. 16
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| Settlement date: | Feb. 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.95%
|
| Cusip: | 22552XBZ5
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