Published on 2/14/2020 in the Prospect News Structured Products Daily.
Credit Suisse ups contingent coupon callable yield notes on indexes to $184,000
By Sarah Lizee
Olympia, Wash., Feb. 14 – Credit Suisse AG, London Branch increased the amount of its contingent coupon callable yield notes due Nov. 5, 2024 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average to $184,000, according to a 424B3 filing with the Securities and Exchange Commission.
The issuer had originally priced $139,000 of the notes on Oct. 31.
Other terms of the notes are unchanged.
The notes will pay a quarterly coupon at an annualized rate of 7.25% if each index closes at or at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes may be called, in whole but not in part, at par plus any coupon on any quarterly early redemption date after one year.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will fully participate in the return of 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, Russell 2000 and Dow Jones industrial average
|
| Amount: | $184,000
|
| Maturity: | Nov. 5, 2024
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| Coupon: | 7.25% per year, payable quarterly if each index closes at or at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its 60% knock-in level, in which case investors will fully participate in the return of least-performing index
|
| Call: | At par plus any coupon on any quarterly redemption date after one year
|
| Initial levels: | 8,083.833 for Nasdaq, 1,562.452 for Russell and 27,046.23 for Dow
|
| Coupon barrier levels: | 5,658.6831 for Nasdaq, 1,093.7164 for Russell and 18,963.504 for Dow, 70% of initial levels
|
| Knock-in levels: | 4,850.2998 for Nasdaq, 937.4712 for Russell and 16,227.738 for Dow, 60% of initial levels
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.125%
|
| Cusip: | 22552FZ62
|
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