Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.22 million of market-linked securities on indexes
Chicago, May 3 – Credit Suisse AG priced $1.22 million of market-linked securities – autocallable with contingent coupon and contingent downside due March 20, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each index closes at or above the 70% threshold on the observation date for that quarter.
Starting in September, the notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless any index falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing index.
Wells Fargo Securities LLC is the agent.
Issuer: | Credit Suisse AG
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Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $1,215,000
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Maturity: | March 20, 2025
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Coupon: | 7.25% annual rate, payable quarterly if each index closes at or above the 70% threshold on the observation date for that quarter
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Price: | Par
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Call: | Automatically called at par if all indexes finish above starting levels on any quarterly observation date after six months
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Payout at maturity: | Par unless any index falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing index
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Initial levels: | 3974.12 for S&P, 2336.392 for Russell, 3849.74 for Stoxx
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Threshold levels: | 2781.884 for S&P, 1635.4744 for Russell, 2694.818 for Stoxx; 70% of initial levels
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Pricing date: | March 17
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Settlement date: | March 22
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Underwriter: | Wells Fargo Securities LLC
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Fees: | 2.175%
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Cusip: | 22552XDK6
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