Published on 12/15/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.32 million contingent coupon autocallable notes on indexes
By Taylor Fox
New York, Dec. 15 – Credit Suisse AG, London Branch, priced $1.32 million of contingent coupon autocallable yield notes due June 13, 2022 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 6.6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be called at par if both indexes finish above their initial levels on any quarterly trigger observation date.
The payout at maturity will be par unless any index finishes below its 60% 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 autocallable yield notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,323,000
|
| Maturity: | June 13, 2022
|
| Coupon: | 6.6% annual rate, payable monthly if each underlying index 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: | Automatically called at par if both indexes finish above their initial levels on any quarterly trigger observation date
|
| Initial levels: | 12,635.72 for Nasdaq, 1,917.782 for Russell
|
| Coupon barriers: | 8,845.004 for Nasdaq, 1,342.4474 for Russell; 70% of initial levels
|
| Knock-in levels: | 7,581.432 for Nasdaq, 1150.6692 for Russell; 60% of initial levels
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 11
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
|
| Cusip: | 22552WVM4
|
© 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.
