Published on 7/2/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $436,000 autocallable securities on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, July 2 – Credit Suisse AG, London Branch priced $436,000 of 0% autocallable securities due June 30, 2022 linked to the Russell 2000 index and the S&P 500 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 10.85% if each underlying index closes at or above its call level, on any semiannual review date. The call level will be equal to the initial level.
If the notes are not called, the payout at maturity will be par plus the contingent return of 21.7% if each index finishes above its initial level.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $436,000
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| Maturity: | June 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 21.7% if each index finishes above its initial level; if either index falls by up to 30%, par; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus annualized redemption premium of 10.85% if each underlying closes at or above call level on any semiannual review date; call level is 100% of initial level
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| Initial levels: | 3,083.76 for S&P, 1,413.315 for Russell
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| Threshold levels: | 2,158.632 for S&P, 989.3205 for Russell; 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.8%
|
| Cusip: | 22552W7E9
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