Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $752,000 contingent coupon autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., March 30 – Credit Suisse AG, London Branch priced $752,000 of contingent coupon autocallable yield notes due Dec. 28, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Every quarter, the notes pay a contingent coupon at the rate of 27.5% per year 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 called at par plus the coupon if each index closes above its initial level on any observation date except the final one.
The payout at maturity will be par plus any coupon unless any index closes below its 70% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $752,000
|
| Maturity: | Dec. 28, 2020
|
| Coupon: | 27.5% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index closes below knock-in level, in which case exposure to decline of least-performing index
|
| Call: | Automatically at par plus coupon if each index closes above initial level on any quarterly observation date except final one
|
| Initial levels: | 2,409.39 for S&P, 20,087.19 for Dow, 1,058.749 for Russell
|
| Coupon barrier levels: | 1,686.573 for S&P, 14,061.033 for Dow, 741.1243 for Russell, 70% of initial levels
|
| Knock-in levels: | 1,686.573 for S&P, 14,061.033 for Dow, 741.1243 for Russell, 70% of initial levels
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.35%
|
| Cusip: | 22551NVL7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
