Published on 9/29/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $750,000 contingent coupon buffered autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon buffered autocallable yield notes due Sept. 23, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.05% if each index closes at or above its 70% coupon barrier on the related quarterly observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index falls by more than 33%, in which case investors will lose 1.4925% for each 1% decline of the worst performing index beyond the 33% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon buffered autocallable yield notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $750,000
|
| Maturity: | Sept. 23, 2025
|
| Coupon: | 7.05% annualized, payable quarterly if each index closes at or above its coupon barrier on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls by more than 33%, in which case 1.4925% loss for each 1% decline of worst performing index beyond 33%
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial index levels: | 1,536.779 for Russell, 3,319.47 for S&P, 10,936.98 for Nasdaq
|
| Coupon barriers: | 1,075.7453 for Russell, 2,323.629 for S&P, 7,655.886 for Nasdaq; 70% of initial levels
|
| Buffer levels: | 1,029.64193 for Russell, 2,224.0449 for S&P, 7,327.7766 for Nasdaq; 67% of initial levels
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Fees: | 0.65%
|
| Cusip: | 22552WL45
|
|
|
© 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.
