Published on 3/9/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.33 million contingent coupon autocallable yield notes on Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, March 9 – Credit Suisse AG, London Branch, priced $1.33 million of contingent coupon autocallable yield notes due Dec. 4, 2020 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 8% per year 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 called at par plus the coupon if each index closes above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either index ever closes below its 75% knock-in level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Nasdaq-100 and Russell 2000
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| Amount: | $1,325,000
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| Maturity: | Dec. 4, 2020
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| Coupon: | 8% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below its knock-in level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level
|
| Call: | Par plus the coupon if each index closes above its initial level on any quarterly trigger observation date
|
| Initial levels: | 1,476.431 for Russell, 8,461.835 for Nasdaq
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| Coupon barrier levels: | 1,107.32325 for Russell, 6,346.37625 for Nasdaq, or 75% of initial levels
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| Knock-in levels: | 1,107.32325 for Russell, 6,346.37625 for Nasdaq, or 75% of initial levels
|
| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.7%
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| Cusip: | 22551NNE2
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