Published on 1/12/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.46 million contingent coupon autocallable yield notes on stocks
By Cady Vishniac
Detroit, Jan. 12 – Credit Suisse AG, London Branch priced $5.46 million of contingent coupon autocallable yield notes due Dec. 31, 2025 linked to the least performing of the common stock of Apple Inc., the common stock of Amazon.com, Inc., the class A common stock of Facebook, Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 14.5% if each stock closes at or above its coupon barrier price, 65% of its initial price, on the related observation date.
The notes will be called at par plus the coupon due if all stocks close at or above their initial prices on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its knock-in price, 60% of its initial price, in which case investors will be fully exposed to the decline of the least-performing stock.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Facebook, Inc. and Netflix, Inc.
|
| Amount: | $5,455,000
|
| Maturity: | Dec. 31, 2025
|
| Coupon: | 14.5% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any stock finishes below its knock-in price, in which case full exposure to decline of least-performing stock
|
| Call: | At par plus the coupon due if all stocks close at or above their initial prices on any quarterly observation date after six months
|
| Initial prices: | $134.87 for Apple, $3,322 for Amazon, $276.78 for Facebook and $530.87 for Netflix
|
| Knock-in prices: | $80.922 for Apple, $1,993.20 for Amazon, $166.068 for Facebook and $318.522 for Netflix; 60% of initial prices
|
| Coupon barrier prices: | $87.6655 for Apple, $2,159.30 for Amazon, $179.907 for Facebook and $345.0655 for Netflix; 65% of initial prices
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 31
|
| Agent: | Incapital LLC
|
| Fees: | 4%
|
| Cusip: | 22552WZP3
|
|
|
© 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.
