Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.61 million contingent coupon callable yield notes on indexes
By Taylor Fox
New York, Dec. 18 – Credit Suisse AG, London Branch priced $5.61 million of contingent coupon callable yield notes due June 16, 2022 linked to the lowest 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 monthly coupon at an annualized rate of 8.9% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable quarterly at par.
The payout at maturity will be par unless any index finishes below its 70% 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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
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Amount: | $5,605,000
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Maturity: | June 16, 2022
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Coupon: | 8.9% per year, payable monthly if each index closes at or above its coupon barrier level on related observation date
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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
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Call: | At par on any quarterly call date
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Initial levels: | 3,663.46 for S&P, 1,911.697 for Russell and 12,375.41 for Nasdaq
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Coupon barrier levels: | 2,564.422 for S&P, 1,338.1879 for Russell, and 8,662.787 for Nasdaq; 70% of initial levels
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Knock-in levels: | 2,564.422 for S&P, 1,338.1879 for Russell, and 8,662.787 for Nasdaq; 70% of initial levels
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Pricing date: | Dec. 11
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Settlement date: | Dec. 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.725%
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Cusip: | 22552WXE0
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