Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $745,000 absolute return barrier securities on three stocks
By Taylor Fox
New York, Nov. 16 – Credit Suisse AG, London Branch priced $745,000 of 0% absolute return barrier securities due Oct. 26, 2023 linked to the least performing of the common stock of Amazon.com, Inc., the class A common stock of Alphabet Inc. and the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes at or above the initial level, the payout at maturity will be par of $5,000 plus the gain of the worst performing stock.
If each stock finishes at or above the 62.25% knock-in level but below its initial level, the payout will be par plus two times the absolute value of the worst performing stock.
Otherwise, the payout will be a number of shares of the worst performing stock equal to $5,000 divided by that stock’s initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
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| Underlying stocks: | Amazon.com, Inc., Alphabet Inc. and Apple Inc.
|
| Amount: | $745,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 0%
|
| Price: | Par of $5,000
|
| Payout at maturity: | If each stock gains, par plus return of worst performing stock; if any stock finishes below initial price but each stock finishes above knock-in level, par plus two times absolute value of worst performing stock’s return; otherwise, number of shares of worst performing stock equal to $5,000 divided by that stock’s initial share price
|
| Initial levels: | $3,184.94 for Amazon, $1,585.99 for Alphabet and $116.87 for Apple
|
| Knock-in levels: | $1,982.63 for Amazon, $987.28 for Alphabet and $72.75 for Apple, 62.25% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
|
| Cusip: | 22550MLC1
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