Published on 3/18/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.44 million autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 18 – Credit Suisse AG, London Branch priced $3.44 million of 7.3% autocallable yield notes due March 11, 2021 linked to the lowest performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date other than the final one.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will fully participate in the return of least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable yield notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $3,444,000
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Maturity: | March 11, 2021
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Coupon: | 7.3% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its knock-in level, in which case investors will fully participate in the return of least-performing index
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Call: | At par if each index closes above initial level on any quarterly trigger observation date other than final one
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Initial levels: | 25,864.78 for Dow, 1,449.221 for Russell, 8,530.337 for Nasdaq
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Knock-in levels: | 18,105.346 for Dow, 1,014.4547 for Russell, 5,791.2359 for Nasdaq, 70% of initial levels
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Pricing date: | March 6
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Settlement date: | March 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.575%
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Cusip: | 22551NUR5
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