Published on 1/19/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $14.07 million trigger callable yield notes linked to iShares Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Jan. 19 – Credit Suisse AG, London Branch priced $14.07 million of 7% trigger callable yield notes due April 19, 2022 linked to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any monthly call date after three months.
The payout at maturity will be par of $10 unless the ETF finishes below its 60% trigger level, in which case investors will be fully exposed to the ETF’s decline.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger callable yield notes
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Underlying ETF: | iShares Russell 2000 ETF
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Amount: | $14,068,500
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Maturity: | April 19, 2022
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Coupon: | 7%, payable monthly
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Price: | Par of $10
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Call option: | At par on any monthly call date after three months
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Payout at maturity: | If ETF finishes at or above trigger level, par; otherwise, full exposure to losses of ETF
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Initial level: | $209.75
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Trigger level: | $125.85; 60% of initial level
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Agent: | UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 22551F368
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