Published on 3/21/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on stocks
Chicago, March 22 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Feb. 5, 2024 linked to the least performing of the stocks of Amazon.com, Inc., Walt Disney Co., JPMorgan Chase & Co. and Lennar Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 14% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
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.
The agent is Incapital LLC.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying stocks: | Amazon.com, Inc., Walt Disney Co., JPMorgan Chase & Co. and Lennar Corp.
|
Amount: | $1,000,000
|
Maturity: | Feb. 5, 2024
|
Coupon: | 14% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date after six months
|
Initial levels: | $3,206.20 for Amazon, $168.17 for Disney, $128.67 for JPM, $83.15 for Lennar
|
Coupon barriers: | $1,923.72 for Amazon, $100.902 for Disney, $77.202 for JPM, $49.89 for Lennar; 60% of initial levels
|
Knock-in levels: | $1,923.72 for Amazon, $100.902 for Disney, $77.202 for JPM, $49.89 for Lennar; 60% of initial levels
|
Pricing date: | Jan. 29
|
Settlement date: | Feb. 3
|
Agent: | Incapital LLC
|
Fees: | 3.5%
|
Cusip: | 22552XA45
|
© 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.