Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon callable yield notes on indexes
By Taylor Fox
New York, Dec. 24 – Credit Suisse AG, London Branch priced $1 million of contingent coupon callable yield notes due June 10, 2022 linked to the least performing of the Nasdaq-100 index, S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6% if each index closes at or above its coupon barrier, 50% of its initial level, on the related observation date.
The notes may be called in whole, but not in part, at par on any quarterly contingent coupon payment date.
The payout at maturity will be par unless either index finishes below its 50% knock-in level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the final level of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Nasdaq-100 index, S&P 500 and Russell 2000
|
| Amount: | $1 million
|
| Maturity: | June 10, 2022
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above its coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level on any day during the life of the notes, in which case full exposure to final level of any losses of the least-performing index
|
| Call option: | In whole at par on any quarterly contingent coupon payment date
|
| Initial levels: | 12,596.47 for Nasdaq, 3,691.96 for S&P and 1,891.252 for Russell
|
| Coupon barrier levels: | 6,298.235 for Nasdaq, 1,845.98 for S&P and 945.626 for Russell; 50% of initial levels
|
| Knock-in levels: | 6,298.235 for Nasdaq, 1,845.98 for S&P and 945.626 for Russell; 50% of initial levels
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 10
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
|
| Cusip: | 22552WWZ4
|
|
|
© 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.
