Published on 4/30/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $303,000 autocallable securities on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, April 30 – Credit Suisse AG, London Branch priced $303,000 of 0% autocallable securities due April 28, 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 17% 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 51%. 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: | $303,000
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| Maturity: | April 28, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 51% 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 17% if each index closes at or above its initial level on any semiannual review date
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| Initial levels: | 8,786.604 for Nasdaq, 1,153.103 for Russell, 23,775.27 for Dow
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| Knock-in levels: | 6,150.6228 for Nasdaq, 863.1371 for Russell, 16,642.689 for Dow; 70% of initial levels
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| Pricing date: | April 24
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| Settlement date: | April 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22551NZB5
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