Published on 9/17/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.33 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 17 – Credit Suisse AG, London Branch priced $1.33 million of contingent coupon autocallable yield notes due Sept. 16, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every month, the notes pay a contingent coupon at the rate of 10.4% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any monthly observation date starting in December.
The payout at maturity will be par plus the final coupon unless any index finishes below its knock-in level, 70% of its initial 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $1,326,000
|
| Maturity: | Sept. 16, 2021
|
| Coupon: | 10.4% per year, payable monthly if each underlying index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any index finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level
|
| Call option: | Automatically at par plus coupon if each index closes at or above initial level on any monthly observation date starting in December
|
| Initial levels: | 3,340.97 for S&P, 1,497.271 for Russell
|
| Coupon barrier levels: | 2,505.7275 for S&P, 1,122.9532 for Russell; 75% of initial levels
|
| Knock-in levels: | 2,338.679 for S&P, 1,048.0897 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.225%
|
| Cusip: | 22552WJR7
|
|
|
© 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.
