Published on 3/27/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $72,000 autocallable securities on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 27 – Credit Suisse AG, London Branch priced $72,000 of 0% autocallable securities due March 27, 2024 linked to the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 8.27% if each underlying index closes at or above its call level, on any annual review date. The call level will be equal to the initial level.
If the notes are not called, the payout at maturity will be par plus the contingent return of 73.8% if each index finishes above its initial level.
If either index falls by up to 30%, the payout will be par plus 10%.
Otherwise, investors will lose 1% for each 1% 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: | Autocallable securities
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $72,000
|
| Maturity: | March 27, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 73.8% if each index finishes above its initial level; if either index falls by up to 30%, par plus 10; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus annualized redemption premium of 8.27% if each underlying closes at or above call level on any annual review date; call level is 100% of initial level
|
| Initial levels: | 2,304.92 for S&P, 2,548.5 for Stoxx
|
| Threshold levels: | 1,613.444 for S&P, 1,783.95 for Stoxx; 70% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22551NRZ1
|
|
|
© 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.
