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 Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Credit Suisse AG, London Branch, priced $10 million of 10.75% yield notes due Feb. 6, 2023 linked to the least performing of the stocks of Automatic Data Processing, Inc., Micron Technology, Inc. and State Street Corp., 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: | Automatic Data Processing, Inc., Micron Technology, Inc. and State Street Corp.
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Amount: | $10 million
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Maturity: | Feb. 6, 2023
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Coupon: | 10.75%, 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: | $146.65 for Automatic Data, $50.09 for Micron, $63.09 for State Street
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Knock-in levels: | $87.99 for Automatic Data, $30.054 for Micron, $37.854 for State Street, or 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: | 0.4%
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Cusip: | 22552WDM4
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