Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million autocallable securities linked to Russell, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Credit Suisse AG, London Branch priced $1.04 million of 0% autocallable securities due Dec. 21, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above 100% of its initial level on any semiannual call date after one year, the notes will be called at par plus a premium of 10.25% a year.
If each index finishes at or above 100% of its initial level, the payout at maturity will be par plus the 30.75% premium applicable to the maturity date.
If the least-performing index finishes below 100% of its initial level but does not falls by more than 30%, the payout will be par.
Otherwise, investors will fully participate in the losses of the worst performer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,044,000
|
| Maturity: | Dec. 21, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 100% of its initial level, par plus 30.75% premium applicable to the maturity date; par if least-performing index finishes below 100% of initial level but does not falls by more than 30%; otherwise full exposure to losses of worst performer
|
| Call: | Automatically at par plus an annualized premium of 10.25% if each index closes at or above 100% of its initial level on any semiannual call date after one year
|
| Initial levels: | 3,701.17 for S&P, 1,952.722 for Russell and 12,668.16 for Nasdaq
|
| Buffer levels: | 2,590.819 for S&P, 1,366.9054 for Russell and 8,867.712 for Nasdaq; 70% of initial levels
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.95%
|
| Cusip: | 17328WXZ3
|
|
|
|
|
© 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.
