Published on 1/18/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.6 million autocallable securities on four stocks
By Taylor Fox
New York, Jan. 19 – Credit Suisse AG, London Branch priced $1.6 million of 0% autocallable securities due Dec. 29, 2023 linked to the lowest performing of the stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 11.55% the least-performing stock closes at or above its initial level on the first annual observation date and above 80% of its initial level on the second annual observation date.
If the notes are not called and the final level of each stock is equal to or greater than 60% of its initial level, the payout at maturity will be par plus 34.65%.
If the final level of any stock is less than its knock-in level, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
The agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $1,602,000
|
| Maturity: | Dec. 29, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index is equal to or greater than knock-in level, par plus 34.65%; otherwise, 1% loss for each 1% decline of lesser-performing index
|
| Call: | Automatically at par plus annualized redemption premium of 11.55% if each index closes at or above its initial level on first annual observation date or above 80% of initial level on second annual observation date
|
| Initial levels: | $130.96 for Apple, $3,185.27 for Amazon, $1,732.38 for Alphabet and $514.48 for Netflix
|
| Trigger levels: | $104.768 for Apple, $2,548.216 for Amazon, $1,385.904 for Alphabet and $411.584 for Netflix, for 80% of initial levels
|
| Knock-in levels: | $78.576 for Apple, $1,911.162 for Amazon, $1,039.428 for Alphabet and $308.688 for Netflix; 60% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | Incapital LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552WV93
|
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