Published on 2/9/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $6.39 million contingent market-linked autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Credit Suisse AG priced $6.39 million of market-linked securities due July 28, 2022 – autocallable with contingent coupon and contingent downside linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.55% if each index closes at or above its 70% coupon threshold on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
Issuer: | Credit Suisse AG
|
Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
Amount: | $6,388,000
|
Maturity: | July 28, 2022
|
Coupon: | 9.55% annualized, payable quarterly if each index closes at or above 70% coupon threshold on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless any index falls by more than 30%, in which case 1% loss per 1% decline of worst performing index
|
Call: | At par if each index closes at or above its initial level on any interest payment date after six months
|
Initial levels: | 2,106.609 for Russell, 3,787.381 for S&P, 13,201.53 for Nasdaq
|
Coupon thresholds: | 1,474.6263 for Russell, 2,651.166 for S&P, 9,241.071 for Nasdaq; 70% of initial levels
|
Downside thresholds: | 1,474.6263 for Russell, 2,651.166 for S&P, 9,241.071 for Nasdaq; 70% of initial levels
|
Pricing date: | Jan. 28
|
Settlement date: | Feb. 2
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 1.525%
|
Cusip: | 22552X2R3
|
|
|
© 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.