Published on 2/21/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.37 million contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Feb. 21 – Credit Suisse AG, London Branch, priced $5.37 million of contingent coupon callable yield notes due Aug. 20, 2021 linked to the least performing of the Euro Stoxx 50 index, 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 quarterly coupon at the rate of 9% 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 quarterly observation date.
The payout at maturity will be par unless any index closes below its 70% knock-in level on any day during the life of the notes, 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: | Euro Stoxx 50 index, Russell 2000 and Nasdaq-100
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| Amount: | $5,371,000
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| Maturity: | Aug. 20, 2021
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| Coupon: | 9% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its knock-in level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level
|
| Call option: | Callable in whole at par plus any coupon on any quarterly observation date
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| Initial levels: | 1,687.584 for Russell, 3,840.97 for Stoxx, 9,623.580 for Nasdaq
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| Coupon barriers: | 1,181.3088 for Russell, 2,688.679 for Stoxx, 6,736.506 for Nasdaq; 70% of initial levels
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| Knock-in levels: | 1,181.3088 for Russell, 2,688.679 for Stoxx, 6,736.506 for Nasdaq; 70% of initial levels
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
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| Cusip: | 22551NPG5
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