Published on 3/27/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.72 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, March 29 – Credit Suisse AG, London Branch priced $2.72 million of contingent coupon callable yield notes due March 18, 2024 linked to the lowest performing of the Nasdaq-100 index, 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 quarterly coupon at an annualized rate of 10.85% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable quarterly at par on any observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% 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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $2,721,000
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Maturity: | March 18, 2024
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Coupon: | 10.85% per year, payable quarterly if each index closes at or above its coupon barrier level on related observation date after six months
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Price: | Par
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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
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Call: | At par on any quarterly observation date
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Initial levels: | 13,052.90 for Nasdaq, 3,939.34 for S&P, 2338.542 for Russell
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Coupon barrier levels: | 9137.03 for Nasdaq, 2757.538 for S&P, 1636.9794 for Russell; 70% of initial levels
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Knock-in levels: | 9137.03 for Nasdaq, 2757.538 for S&P, 1636.9794 for Russell; 70% of initial levels
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Pricing date: | March 11
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Settlement date: | March 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.95%
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Cusip: | 22552XFH1
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