Published on 3/30/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.03 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, March 30 – Credit Suisse AG, London Branch, priced $4.03 million of contingent coupon callable yield notes due Sept. 12, 2022 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 12.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any monthly observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, 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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 and Nasdaq-100
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Amount: | $4,025,000
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Maturity: | Sept. 12, 2022
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Coupon: | 12.5% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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Call option: | Callable in whole at par plus any coupon on any monthly observation date after six months
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Initial levels: | 2,192.212 for Russell, 31496.30 for Dow, 12,668.51 for Nasdaq
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Coupon barrier levels: | 1534.5484 for Russell, 22047.41 for Dow, 8867.957 for Nasdaq, 70% of initial levels
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Knock-in levels: | 1,160.8198 for Russell, 20,105.995 for Dow, 6,363.6531 for Nasdaq, 70% of initial levels
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Pricing date: | March 5
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Settlement date: | March 10
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 22552XDN0
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