Published on 8/19/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse $519,000 contingent coupon autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., Aug. 19 – Credit Suisse AG, London Branch priced $519,000 of contingent coupon autocallable yield notes due Aug. 19, 2025 linked to the lowest performing of the stocks of Fastly, Inc., Roku, Inc. and Teladoc Health, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 30% if each stock closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be called at par plus the coupon if each stock closes at or above 90% of its initial level on any monthly observation date after six months.
The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Fastly, Inc., Roku, Inc. and Teladoc Health, Inc.
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| Amount: | $519,000
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| Maturity: | Aug. 19, 2025
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| Coupon: | 30% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
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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 the payout will be par plus the return of the least performing stock with full exposure to losses
|
| Call: | Automatically at par plus the coupon if each stock closes at or above 90% of its initial level on any monthly observation date after six months
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| Initial levels: | $76.61 for Fastly, $146.85 for Roku and $187.50 for Teladoc
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| Coupon barriers: | $45.966 for Fastly, $88.11 for Roku and $112.50 for Teladoc, 60% of initial levels
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| Knock-in levels: | $38.305 for Fastly, $73.425 for Roku and $93.75 for Teladoc, 50% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552WEW1
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