Published on 4/13/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $130,000 autocallable securities on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, April 13 – Credit Suisse AG, London Branch priced $130,000 of 0% autocallable securities due April 3, 2023 linked to 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.
The notes will be automatically called at par plus an annualized redemption premium of 12.5% if each underlying index closes at or above its initial level on any semiannual review date.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus the contingent return of 37.5%. If any index falls but each index finishes at or above its 70% knock-in level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $130,000
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| Maturity: | April 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 37.5% if each index finishes at or above initial level; par if any index falls but none finish below knock-in level; otherwise, investors will be fully exposed to any decline of the least performing index
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| Call: | Automatically at par plus annualized redemption premium of 12.5% if each index closes at or above its initial level on any semiannual review date
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| Initial levels: | 7,813.499 for Nasdaq, 1,153.103 for Russell, 21,917.16 for Dow
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| Knock-in levels: | 5,469.4493 for Nasdaq, 807.1721 for Russell, 15,342.012 for Dow; 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22551NU20
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