Published on 3/10/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million yield notes on three stocks
By Taylor Fox
New York, March 10 – Credit Suisse AG, London Branch, priced $2 million of 20.1% yield notes due March 3, 2023 linked to the least performing of the stocks of American Airlines Group Inc., Yeti Holdings, Inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Yield notes
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Underlying stocks: | American Airlines Group Inc., Yeti Holdings, Inc. and Peloton Interactive, Inc.
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Amount: | $2 million
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Maturity: | March 3, 2023
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Coupon: | 20.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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Initial levels: | $20.86 for American, $67.42 for Yeti and $115.21 for Peloton
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Knock-in levels: | $12.516 for American, $40.452 for Yeti and $69.126 for Peloton, or 60% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | March 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22552XEF6
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