Published on 8/11/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $11 million yield notes on three stocks
By Sarah Lizee
Olympia, Wash., Aug. 11 – Credit Suisse AG, London Branch, priced $11 million of 10.45% yield notes due Aug. 4, 2022 linked to the least performing of the stocks of Anheuser-Busch InBev SA/NV, Molson Coors Beverage Co. and U.S. Bancorp, 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: | Anheuser-Busch InBev SA/NV, Molson Coors Beverage Co. and U.S. Bancorp
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Amount: | $11 million
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Maturity: | Aug. 4, 2022
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Coupon: | 10.45%, 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: | $55.64 for Anheuser, $36.32 for Molson, $36.32 for U.S. Bancorp
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Knock-in levels: | $33.384 for Anheuser, $21.792 for Molson, $21.792 for U.S. Bancorp; 60% of initial levels
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Pricing date: | July 30
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Settlement date: | Aug. 4
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.32%
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Cusip: | 22552WDL6
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