Published on 9/18/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $750,000 contingent coupon autocallable yield notes on three stocks
By Sarah Lizee
Olympia, Wash., Sept. 18 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon autocallable yield notes due Sept. 23, 2024 linked to the least performing of the common stocks of Home Depot, Inc., Lowe’s Cos., Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.25% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date after one year.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Home Depot, Inc., Lowe’s Cos., Inc. and Walmart Inc.
|
| Amount: | $750,000
|
| Maturity: | Sept. 23, 2024
|
| Coupon: | 10.25% per year, payable quarterly if each stock closes at or above its coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date after one year
|
| Initial prices: | $285.58 for Home Depot, $169.03 for Lowe’s and $137.36 for Walmart
|
| Coupon barriers: | $171.348 for Home Depot, $101.418 for Lowe’s and $82.416 for Walmart; 60% of initial levels
|
| Knock-in levels: | $171.348 for Home Depot, $101.418 for Lowe’s and $82.416 for Walmart; 60% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.85%
|
| Cusip: | 22552WLC7
|
© 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.
