Published on 12/26/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 10.54% autocallable yield notes on three stocks
By Taylor Fox
New York, Dec. 30 – Credit Suisse AG, London Branch priced $500,000 of 10.54% autocallable yield notes due March 9, 2022 linked to the common stocks of Facebook, Inc., T-Mobile US, Inc. and Vodafone Group plc, according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid quarterly.
The notes will be automatically called at par plus the coupon if each stock closes at or above its trigger level on any quarterly trigger observation date. The trigger level will be 100% of each stock’s initial level.
The payout at maturity will be par unless any stock finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Facebook, Inc., T-Mobile US, Inc. and Vodafone Group plc
|
| Amount: | $500,000
|
| Maturity: | March 9, 2022
|
| Coupon: | 10.54% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to the losses of the least performing stock
|
| Call: | Automatically called at par plus the coupon if each stock closes at or above trigger level on any quarterly trigger observation date
|
| Initial prices: | $287.52 for Facebook, $133.14 for T-Mobile and £1.2706 for Vodafone
|
| Knock-in levels: | $215.64 for Facebook, $99.855 for T-Mobile and £0.95295 for Vodafone; 75% of initial prices
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22552WWD3
|
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