Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.68 million contingent coupon autocallable yield notes on stocks
Chicago, March 29 – Credit Suisse AG, London Branch priced $3.68 million of contingent coupon autocallable yield notes due Feb. 26, 2024 linked to the least performing of the stocks of Apple Inc., Amazon.com, Inc., Facebook, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 13% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Apple Inc., Amazon.com, Inc., Facebook, Inc. and Microsoft Corp.
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Amount: | $3,680,000
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Maturity: | Feb. 26, 2024
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Coupon: | 13% per year, payable quarterly if each stock 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 stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
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Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date after six months
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Initial levels: | $125.35 for Apple, $3,159.53 for Amazon, $264.31 for Facebook, $234.55 for Microsoft
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Coupon barriers: | $75.21 for Apple, $1,895.718 for Amazon, $158.586 for Facebook, $140.73 for Microsoft; 60% of initial levels
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Knock-in levels: | $75.21 for Apple, $1,895.718 for Amazon, $158.586 for Facebook, $140.73 for Microsoft; 60% of initial levels
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Pricing date: | Feb. 24
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Settlement date: | Feb. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.35%
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Cusip: | 22552XDV2
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