Published on 7/16/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $18.25 million trigger autocallable contingent yield notes on indexes
By Kiku Steinfeld
Chicago, July 16 – Credit Suisse AG, London Branch priced $18.25 million of trigger autocallable contingent yield notes due July 15, 2024 linked to 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 contingent quarterly coupon at an annual rate of 8.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $18,249,450
|
| Maturity: | July 15, 2024
|
| Coupon: | 8.25%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless index closes below trigger level, in which case full exposure to loss of worse-performing index
|
| Initial levels: | 1422.679 for Russell, 26075.30 for Dow
|
| Coupon barrier level: | 995.875 for Russell 18252.71 for Dow, 70% of initial levels
|
| Trigger level: | 853.607 for Russell, 15645.18 for Dow, 60% of initial levels
|
| Pricing date: | July 10
|
| Settlement date: | July 15
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2.25%
|
| Cusip: | 22550X147
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
