Published on 2/21/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $970,000 contingent coupon callable yield notes on three stocks
By Taylor Fox
New York, Feb. 22 – Credit Suisse AG, London Branch, priced $970,000 of contingent coupon callable yield notes due Feb. 12, 2024 linked to the least performing of the stocks of Amazon.com, Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 23% per year if each stock closes at or above its coupon barrier price, 50% of its initial price, on the related observation date.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any monthly early redemption date after three months.
The payout at maturity will be par unless any stock finishes below its 50% knock-in price, in which case investors will be exposed to the decline of the least-performing stock from its initial price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stocks: | Amazon.com, Inc., Netflix, Inc. and Tesla, Inc.
|
| Amount: | $970,000
|
| Maturity: | Feb. 12, 2024
|
| Coupon: | 23% per year, payable monthly if each underlying asset closes at or above its coupon barrier price on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in price, in which case investors will be exposed to the decline of the least-performing stock from its initial price
|
| Call: | Par plus any contingent coupon on any monthly early redemption date after three months
|
| Initial prices: | $3,305 for Amazon, $559.07 for Netflix and $849.46 for Tesla
|
| Coupon barrier/knock-in prices: | $1,652.50 for Amazon, $279.535 for Netflix and $424.73 for Tesla, 50% of initial prices
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 12
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22552XBK8
|
|
|
© 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.
