Published on 1/15/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.03 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 15 – Credit Suisse AG, London Branch priced $1.03 million of contingent coupon callable yield notes due Jan. 17, 2023 linked to the lowest performing of the Dow Jones industrial average, 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 8.15% 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 quarterly at par 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $1,026,000
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Maturity: | Jan. 17, 2023
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Coupon: | 8.15% per year, payable quarterly if each index closes at or above its coupon barrier level on related observation date
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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 call date after six months
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Initial levels: | 31,068.69 for Dow, 3,801.19 for S&P, 2,127.959 for Russell
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Coupon barrier levels: | 23,301.5175 for Dow, 2,850.8295 for S&P, 1,595.96925 for Russell; 75% of initial levels
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Knock-in levels: | 21,748.083 for Dow, 2,660.833 for S&P, 1,489.5713 for Russell; 70% of initial levels
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Pricing date: | Jan. 12
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Settlement date: | Jan. 15
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.225%
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Cusip: | 22552X4A8
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