Published on 1/22/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.15 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – Credit Suisse AG, London Branch priced $1.15 million of contingent coupon callable yield notes due July 22, 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 quarterly coupon at an annualized rate of 9.35% if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its knock-in level, 60% 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 callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,146,000
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| Maturity: | July 22, 2022
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| Coupon: | 9.35% per year, payable quarterly if each index closes at or above its coupon barrier level on the related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any quarterly observation date
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| Initial levels: | 12,996.54 for Nasdaq, 3,798.91 for S&P, 2,151.137 for Russell
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| Coupon barrier levels: | 7,797.924 for Nasdaq, 2,279.346 for S&P, 1,290.6822 for Russell; 60% of initial levels
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| Knock-in levels: | 7,797.924 for Nasdaq, 2,279.346 for S&P, 1,290.6822 for Russell; 60% of initial levels
|
| Pricing date: | Jan. 19
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| Settlement date: | Jan. 22
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.725%
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| Cusip: | 22552X4X8
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