Published on 9/17/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.61 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 17 – Credit Suisse AG, London Branch, priced $1.61 million of contingent coupon callable yield notes due June 16, 2022 linked to the least performing of the Euro Stoxx Banks index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 15% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any quarterly observation date starting in December.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | Euro Stoxx Banks index and Nasdaq-100 index
|
Amount: | $1,605,000
|
Maturity: | June 16, 2022
|
Coupon: | 15% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
|
Call option: | Callable in whole at par plus any coupon on any quarterly observation date starting in December
|
Initial levels: | 61.31 for Stoxx, 11,087.40 for Nasdaq
|
Coupon barriers: | 42.917 for Stoxx, 7,761.18 for Nasdaq; 70% of initial levels
|
Knock-in levels: | 36.786 for Stoxx, 6,652.44 for Nasdaq; 60% of initial levels
|
Pricing date: | Sept. 11
|
Settlement date: | Sept. 16
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.725%
|
Cusip: | 22552WJC0
|
|
© 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.