Published on 8/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 19 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Feb. 18, 2022 linked to the lowest performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.25% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date.
The payout at maturity will be par plus the coupon unless any index finishes below its 70% knock-in level, in which case investors will fully participate in the return of least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $500,000
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| Maturity: | Feb. 18, 2022
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| Coupon: | 6.25% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless any index finishes below its knock-in level, in which case investors will fully participate in the return of least-performing index
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| Call: | At par if each index closes above initial level on any quarterly trigger observation date
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| Initial levels: | 11,139.39 for Nasdaq, 1,579.787 for Russell, 27,896.72 for Dow
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| Coupon barrier levels: | 7,824.859 for Nasdaq, 1,105.8509 for Russell, 19,527.704 for Dow, 70% of initial levels
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| Knock-in levels: | 7,824.859 for Nasdaq, 1,105.8509 for Russell, 19,527.704 for Dow, 70% of initial levels
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.225%
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| Cusip: | 22552WFB6
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