Published on 6/23/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.66 million contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., June 23 – Credit Suisse AG, London Branch, priced $1.66 million of contingent coupon callable yield notes due March 19, 2024 linked to the least 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 pay a contingent quarterly coupon at the rate of 10.15% per year if each index closes at or above its coupon barrier level, 60% 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 after six months.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,663,000
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| Maturity: | March 19, 2024
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| Coupon: | 10.15% 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 finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon on any quarterly observation date after six months
|
| Initial levels: | 3124.74 for S&P, 1452.26 for Russell, 26289.98 for Dow
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| Coupon barriers: | 1874.844 for S&P, 871.356 for Russell, 15773.988 for Dow; 60% of initial levels
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| Knock-in levels: | 1874.844 for S&P, 871.356 for Russell, 15773.988 for Dow; 60% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 19
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.7%
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| Cusip: | 22552W7B5
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