Published on 7/28/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $898,000 contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 28 – Credit Suisse AG, London Branch priced $898,000 of contingent coupon autocallable yield notes due Jan. 27, 2023 linked to the lowest performing of 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 pay a monthly coupon at an annualized rate of 5.85% if each index closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any monthly trigger 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 fully participate in the return of least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
|
Amount: | $898,000
|
Maturity: | Jan. 27, 2023
|
Coupon: | 5.85% per year, payable monthly if each index closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below its knock-in level, in which case investors will fully participate in the return of least-performing index
|
Call: | At par if each index closes above initial level on any monthly trigger observation date after six months
|
Initial levels: | 27,005.84 for Dow, 1,490.141 for Russell and 10,870.75 for Nasdaq
|
Coupon barrier levels: | 16,203.504 for Dow, 894.0846 for Russell and 6,522.45 for Nasdaq, 60% of initial levels
|
Knock-in levels: | 16,203.504 for Dow, 894.0846 for Russell and 6,522.45 for Nasdaq, 60% of initial levels
|
Pricing date: | July 22
|
Settlement date: | July 27
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.7%
|
Cusip: | 22552WCF0
|
|
|
© 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.