Published on 10/28/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.37 million autocallable buffered return notes on S&P, Nasdaq
By Kiku Steinfeld
Chicago, Oct. 28 – Credit Suisse AG, London Branch priced $8.37 million of 0% autocallable buffered return equity securities due April 27, 2022 linked to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 12.75% annualized premium if both indexes close at or above their initial levels on April 22, 2021 or Oct. 22, 2021.
If the notes are not called, investors will receive par plus 19.125% if each index finishes at or above its initial level. Investors will receive par if the lesser performing index falls by up to 20% and will lose 1.25% for each 1% decline of the worse performing index beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying assets: | S&P 500 and Nasdaq-100
|
| Amount: | $8,369,000
|
| Maturity: | April 27, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 19.125% if each index finishes at or above its initial level; par if the lesser performing index falls by up to 20%; 1.25% loss for each 1% decline of the worse performing index beyond 20%
|
| Call: | Automatically at par plus 12.75% annualized premium if each index closes at or above its initial level on April 22, 2021 or Oct. 22, 2021
|
| Initial levels: | 3,435.56 for S&P, 11,665.37 for Nasdaq
|
| Buffer levels: | 2,748.448 for S&P, 9,332.296 for Nasdaq; 80% of initial levels
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 27
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.2%
|
| Cusip: | 22552WQR9
|
© 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.
