Published on 8/18/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.26 million contingent coupon autocallable yield notes on Advanced Micro
By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – Credit Suisse AG, London Branch priced $1.26 million of contingent coupon autocallable yield notes due Aug. 14, 2023 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 60% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 14.6% per year for that quarter plus any previously unpaid coupon.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below the 60% barrier level, in which case investors will lose 1% for every 1% that the stock declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Advanced Micro Devices, Inc.
|
| Amount: | $1,262,000
|
| Maturity: | Aug. 14, 2023
|
| Coupon: | If stock closes at or above buffer level on quarterly observation date, notes pay contingent coupon at rate of 14.6% per year for that quarter, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will lose 1% for every 1% that stock declines
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $84.85
|
| Barrier level: | $50.91, 60% of initial share price
|
| Coupon barrier level: | $50.91, 60% of initial share price
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22552WEM3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
