Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.64 million accelerated barrier notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Credit Suisse AG, London Branch priced $1.64 million of 0% accelerated barrier notes due Dec. 23, 2025 linked to the lowest performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each asset finishes at or above its initial level, the payout at maturity will be par plus 258% of the return of the lesser performing asset.
If either asset falls but neither finishes below its 70% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the lesser performing asset.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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Amount: | $1,644,000
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Maturity: | Dec. 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser performing asset finishes at or above its initial price, par plus 258% of that asset’s return; if lesser performing asset falls by up to 30%, par; otherwise, full exposure to decline of lesser performing asset
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Initial prices: | $50.99 for EM, 3,545.74 for index
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Knock-in prices: | $35.693 for EM, 2,482.018 for index, 70% of initial prices
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Pricing date: | Dec. 18
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Settlement date: | Dec. 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.125%
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Cusip: | 22552WYA7
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