Published on 10/25/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.05 million contingent coupon callable yield notes on indexes
By Taylor Fox
New York, Oct. 26 – Credit Suisse AG, London Branch, priced $1.05 million of contingent coupon callable yield notes due Sept. 29, 2025 linked to the least 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 pay a contingent quarterly coupon at the rate of 6.75% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 50% knock-in 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 callable yield notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,050,000
|
| Maturity: | Sept. 29, 2025
|
| Coupon: | 6.75% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
| Call option: | Callable in whole at par plus any coupon on any quarterly observation date after six months
|
| Initial levels: | 1,496.961 for Russell, 27,288.18 for Dow, 11,186.37 for Nasdaq
|
| Coupon barriers: | 898.1766 for Russell, 16,372.908 for Dow, 6,711.822 for Nasdaq; 60% of initial levels
|
| Knock-in levels: | 748.4805 for Russell, 13,644.09 for Dow, 5,593.185 for Nasdaq; 50% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552WLR4
|
|
|
© 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.
