Published on 4/1/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $545,000 autocallable securities on indexes
By Sarah Lizee
Olympia, Wash., April 1 – Credit Suisse AG, London Branch priced $545,000 of 0% autocallable securities due March 27, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse will call the notes at par plus a call premium of 27% per year if the closing level of each asset is greater than or equal to its initial level on any annual call date.
If the notes are not called and each index finishes at or above its initial level, the payout will be $2,350 per $1,000 of notes.
Investors will receive par if the least performing index falls by up to 30%.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying assets: | S&P 500 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $545,000
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| Maturity: | March 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, $2,350 per $1,000 of notes; par if the least performing index falls by up to 30%; 1% loss for each 1% decline of the worst performing asset from its initial level if it falls by more than 30%
|
| Call: | Automatically at par plus annualized premium of 27% if each asset closes at or above initial level on any annual call date
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| Initial levels: | 2,237.40 for S&P, 18,591.93 for Dow and 7,006.917 for Nasdaq
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| Knock-in levels: | 1,566.18 for S&P, 13,014.351 for Dow and 4,904.8419 for Nasdaq; 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 27
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 22551NVV5
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