Published on 12/5/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.52 million contingent coupon autocalls on S&P, Russell, Dow
By Taylor Fox
New York, Dec. 7 – Credit Suisse AG priced $4.52 million of market-linked securities – autocallable with contingent coupon and contingent downside – due Nov. 30, 2022 linked to the worst 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 5.75% if each index closes at or above its 70% coupon barrier on the related quarterly review date.
The notes will be called at par if the lowest performing index closes at or above its initial value on a quarterly call date after six months.
The payout at maturity will be par unless the worst performing index finishes below its 70% barrier level, in which case investors will 1% for every 1% that index falls.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones Industrial Average
|
| Amount: | $4,515,000
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| Maturity: | Nov. 30, 2022
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| Coupon: | 5.75% annualized, payable quarterly if each index closes at or above coupon barrier on related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below final barrier, in which case investors will lose 1% for each 1% the worst performing index falls
|
| Call: | At par if each index closes at or above its initial value on a quarterly call date after six months
|
| Initial prices: | 3,621.63 for S&P, 1,819.816 for Russell and 29,638.64 for Dow
|
| Threshold levels: | 2,535.141 for S&P, 1,273.8712 for Russell and 20,747.048 for Dow, 70% of initial price
|
| Final barriers: | 2,535.141 for S&P, 1,273.8712 for Russell and 20,747.048 for Dow, 70% of initial price
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 3
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.825%
|
| Cusip: | 22552WRF4
|
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