Published on 1/30/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5,000 contingent coupon autocallable yield notes Dow, Gold ETF
By Taylor Fox
New York, Feb. 1 – Credit Suisse AG, London Branch priced $5,000 of contingent coupon autocallable yield notes due June 30, 2023 linked to the least performing of the Dow Jones industrial average and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10% if each asset closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par if each asset closes at or above its initial level, on any quarterly trigger observation date starting June 25, 2021.
The payout at maturity will be par unless any asset finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing asset.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying assets: | Dow Jones industrial average and the VanEck Vectors Gold Miners ETF
|
Amount: | $5,000
|
Maturity: | June 30, 2023
|
Coupon: | 10% per year, payable quarterly if each asset closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below its knock-in level, in which case full exposure to the losses of the least-performing asset
|
Call: | Automatically at par if each asset closes at or above initial level on any quarterly trigger observation date starting June 25, 2021
|
Initial prices: | 30,403.97 for Dow and $35.69 for Gold
|
Coupon barrier levels: | 21,282.779 for Dow and $24.983 for Gold; 70% of initial levels
|
Knock-in levels: | 21,282.779 for Dow and $24.983 for Gold; 70% of initial levels
|
Pricing date: | Dec. 28
|
Settlement date: | Dec. 31
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.75%
|
Cusip: | 22552WW50
|
© 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.