Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.74 million yield notes on three stocks
By Taylor Fox
New York, Feb. 16 – Credit Suisse AG, London Branch, priced $2.74 million of 8.6% yield notes due Jan. 23, 2023 linked to the least performing of the common stocks of Citigroup Inc., Dow Inc. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Yield notes
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Underlying stocks: | Citigroup Inc., Dow Inc. and Lowe’s Cos., Inc.
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Amount: | $2,735,000
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Maturity: | Jan. 23, 2023
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Coupon: | 8.6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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Initial levels: | $69.01 for Citigroup, $59.65 for Dow and $170.39 for Lowe’s
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Knock-in levels: | $41.406 for Citigroup, $35.79 for Dow and $102.234 for Lowe’s; 60% of initial levels
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Pricing date: | Jan. 15
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Settlement date: | Jan. 21
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22552X5M1
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