Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.39 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Credit Suisse AG, London Branch priced $1.39 million of contingent coupon callable yield notes due Sept. 21, 2022 linked to the lowest performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7.05% 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 at par onthly call date starting March 22.
The payout at maturity will be par unless any index finishes below its 70% 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 Down Jones industrial average
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Amount: | $1,394,000
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Maturity: | Sept. 21, 2022
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Coupon: | 7.05% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
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Price: | Par
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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
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Call option: | At par on any monthly call date starting March 22
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Initial levels: | 1,952.722 for Russell, 30,154.54 for Dow and 12,668.16 for Nasdaq
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Coupon barrier levels: | 1,464.5415 for Russell, 22,615.905 for Dow and 9,501.12 for Nasdaq; 75% of initial levels
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Knock-in levels: | 1,366.9054 for Russell, 21,108.178 for Dow and 8,867.712 for Nasdaq; 70% of initial levels
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.225%
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Cusip: | 22552WYC3
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