Published on 1/12/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on indexes
By Cady Vishniac
Detroit, Jan. 12 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due June 30, 2022 linked to the least 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.
The notes will pay a monthly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 50% of its initial level, on the related observation date.
The notes will be called at par plus the coupon due if all indexes close at or above their initial levels on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its knock-in level, 50% of its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1 million
|
| Maturity: | June 30, 2022
|
| Coupon: | 7% per year, payable monthly if each index closes at or above its coupon barrier level on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below its knock-in level, in which case full exposure to decline of least-performing index
|
| Call: | At par plus the coupon due if all indexes close at or above their initial levels on any quarterly observation date
|
| Initial levels: | 3,735.36 for S&P, 1,996.25 for Russell and 12,838.86 for Nasdaq
|
| Knock-in/coupon barrier levels: | 1,867.68 for S&P, 998.125 for Russell and 6,419.43 for Nasdaq; 50% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.35%
|
| Cusip: | 22552WZJ7
|
|
|
© 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.
