Published on 10/12/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $847,000 contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – Credit Suisse AG, London Branch priced $847,000 of contingent coupon autocallable yield notes due Sept. 30, 2021 linked to the lowest performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 12.7% 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 if each index closes above its initial level on any monthly call date starting Dec. 24.
The payout at maturity will be par unless any index finishes below its 75% 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 autocallable yield notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $847,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 12.7% per year, payable monthly 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 unless any index finishes below its knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | At par if each index closes above initial level on any monthly call date starting Dec. 24
|
| Initial levels: | 1,474.908 for Russell, 27,173.96 for Dow, 11,151.13 for Nasdaq
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| Coupon barrier levels: | 1,106.181 for Russell, 20,380.47 for Dow and 8,363.3475 for Nasdaq; 75% of initial levels
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| Knock-in levels: | 1,106.181 for Russell, 20,380.47 for Dow and 8,363.3475 for Nasdaq; 75% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 22552WM69
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