Published on 3/11/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.96 million contingent coupon callable yield notes on indexes
By Taylor Fox
New York, March 11 – Credit Suisse AG, London Branch priced $1.96 million of contingent coupon callable yield notes due Sept. 5, 2023 linked to the lowest performing of the Dow Jones industrial average, 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 8% 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 at par on any monthly call date after three months.
The payout at maturity will be par unless any index finishes below its 50% 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
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,957,000
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| Maturity: | Sept. 5, 2023
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| Coupon: | 8% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
|
| Price: | Par
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| 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 call date after three months
|
| Initial level: | 30,932.37 for Dow, 3,811.15 for S&P, 2,201.051 for Russell
|
| Coupon barriers: | 23,199.2775 for Dow, 2,858.3625 for S&P, 1,650.78825 for Russell; 75% of initial levels
|
| Knock-in levels: | 15,466.185 for Dow, 1,905.575 for S&P, 1,100.5255 for Russell; 50% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.95%
|
| Cusip: | 22552XD26
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