Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 contingent coupon autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 29 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due April 29, 2020 linked to the S&P 500 index, the Euro Stoxx 50 index and the Topix index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the annual rate of 7.25% unless any index closes below its barrier level, 60% of its initial level, on the observation date for that quarter.
Beginning April 25, 2017, the notes will be automatically called at par if each index closes at or above its initial index level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50 and Topix
|
| Amount: | $500,000
|
| Maturity: | April 29, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.25% per year unless any index closes below barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
|
| Call: | Beginning April 25, 2017, automatically at par if each index closes at or above initial index level on any quarterly observation date
|
| Initial index levels: | 3,121.29 for Euro Stoxx 50, 2,091.70 for S&P 500 and 1,391.69 for Topix
|
| Barrier levels: | 1,872.774 for Euro Stoxx 50, 1,255.02 for S&P 500 and 835.014 for Topix; 60% of initial levels
|
| Pricing date: | April 26
|
| Settlement date: | April 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22548Q4D4
|
|
|
|
|
© 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.
