Published on 3/25/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million contingent coupon autocallable yield notes on indexes
By Kiku Steinfeld
Chicago, March 25 – Credit Suisse AG, London Branch priced $1.04 million of contingent coupon autocallable yield notes due Sept. 9, 2021 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8.15% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date.
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
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $1,038,000
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| Maturity: | Sept. 9, 2021
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| Coupon: | 8.15% per year, payable quarterly if each index 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 index finishes below its 70% knock-in level, in which case investors will fully participate in the return of least-performing index
|
| Call: | At par if each index closes above initial level on any quarterly trigger observation date
|
| Initial levels: | 3130.12 for S&P, 1531.197 for Russell and 27090.86 for Dow
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| Coupon barrier levels: | 2191.084 for S&P, 1071.8379 for Russell and 18963.602 for Dow, 70% of initial levels
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| Knock-in levels: | 2191.084 for S&P, 1071.8379 for Russell and 18963.602 for Dow, 70% of initial levels
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| Pricing date: | March 4
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| Settlement date: | March 9
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.225%
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| Cusip: | 22551NU95
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