Published on 10/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $531,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Credit Suisse AG, London Branch priced $531,000 of contingent coupon callable yield notes due Oct. 7, 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 7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
After six months, the notes will be callable quarterly at par.
The payout at maturity will be par unless any index finishes below its 50% 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
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
|
| Amount: | $531,000
|
| Maturity: | Oct. 7, 2022
|
| Coupon: | 7% per year, payable quarterly 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 knock-in level, in which case full exposure to the losses of the least-performing index
|
| Call: | At par on any quarterly call date after six months
|
| Initial levels: | 3,348.42 for S&P, 1,539.297 for Russell and 11,255.69 for Nasdaq
|
| Coupon barrier levels: | 2,343.894 for S&P, 1,077.5079 for Russell, and 7,878.983 for Nasdaq; 70% of initial levels
|
| Knock-in levels: | 1,674.21 for S&P, 769.6485 for Russell and 5,627.845 for Nasdaq; 50% of initial levels
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.6%
|
| Cusip: | 22552WNS0
|
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