Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.2 million autocallable yield notes on indexes
By Kiku Steinfeld
Chicago, March 23 – Credit Suisse AG, London Branch priced $1.2 million of 4% autocallable yield notes due March 15, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date after three quarters.
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 any losses of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable yield notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $1,200,000
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Maturity: | March 15, 2023
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Coupon: | 4% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its 50% knock-in level, in which case full exposure to any losses of the least-performing index
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Call: | At par if each index closes above initial level on any quarterly trigger observation date after three quarters
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Initial levels: | 32297.02 for Dow, 3898.81 for S&P, 2285.683 for Russell
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Knock-in levels: | 16148.51 for Dow, 1949.405 for S&P and 1142.8415 for Russell; 50% of initial levels
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Pricing date: | March 10
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Settlement date: | March 15
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.45%
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Cusip: | 22552XFV0
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