Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $10 million yield notes on three stocks
By Sarah Lizee
Olympia, Wash., Aug. 7 – Credit Suisse AG, London Branch, priced $10 million of 10.95% yield notes due July 29, 2022 linked to the least performing of the stocks of Dow Inc., Lowe’s Cos., Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Yield notes
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Underlying stocks: | Dow Inc., Lowe’s Cos., Inc. and Wells Fargo & Co.
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Amount: | $10 million
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Maturity: | July 29, 2022
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Coupon: | 10.95%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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Initial levels: | $44.00 for Dow, $149.12 for Lowe’s, $25.49 for Wells
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Knock-in levels: | $26.40 for Dow, $89.472 for Lowe’s, $15.294 for Wells, or 60% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.32%
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Cusip: | 22552WDD4
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