Published on 10/12/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $6.25 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – Credit Suisse AG, London Branch priced $6.25 million of contingent coupon callable yield notes due Sept. 30, 2022 linked to the lowest performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 18% 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 callable quarterly at par.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to the losses of the least-performing index.
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: | Russell 2000, Nasdaq-100 and S&P 500
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| Amount: | $6.25 million
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| Maturity: | Sept. 30, 2022
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| Coupon: | 18% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to the losses of the least-performing index
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| Call: | At par on any quarterly call date
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| Initial levels: | 1,474.908 for Russell, 3,298.46 for S&P, 11,151.13 for Nasdaq
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| Coupon barrier levels: | 1,106.181 for Russell, 2,473.845 for S&P and 8,363.3475 for Nasdaq; 75% of initial levels
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| Knock-in levels: | 1,106.181 for Russell, 2,473.845 for S&P and 8,363.3475 for Nasdaq; 75% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552WMQ5
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