Published on 1/19/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.57 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Jan. 19 – Credit Suisse AG, London Branch priced $2.57 million of contingent coupon callable yield notes due Jan. 19, 2024 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7.15% 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 monthly at par on any observation date after six months.
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
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
Amount: | $2,573,000
|
Maturity: | Jan. 19, 2024
|
Coupon: | 7.15% per year, payable monthly if each 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 full exposure to the losses of the least-performing index
|
Call: | At par on any monthly observation date after six months
|
Initial levels: | 12973.63 for Nasdaq, 3809.84 for S&P, 2111.966 for Russell
|
Coupon barrier levels: | 9730.2225 for Nasdaq, 2857.38 for S&P, 1583.9745 for Russell; 75% of initial levels
|
Knock-in levels: | 9081.541 for Nasdaq, 2666.888for S&P, 1478.3762 for Russell; 70% of initial levels
|
Pricing date: | Jan. 13
|
Settlement date: | Jan. 19
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.95%
|
Cusip: | 22552X3U5
|
|
© 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.