Published on 11/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $713,000 7% autocallable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 2 – Credit Suisse AG, London Branch priced $713,000 of 7% autocallable yield notes due Oct. 31, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on April 26, 2016 or July 26, 2016.
The payout at maturity will be par unless either index closes at or below its knock-in level, 70% of its initial level, during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $713,000
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Maturity: | Oct. 31, 2016
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Coupon: | 7%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index closes at or below knock-in level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
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Call: | Automatically at par if each index closes at or above initial level on April 26, 2016 or July 26
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Initial index levels: | 1,145.291 for Russell 2000 and 2,065.89 for S&P 500
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Knock-in level: | 801.7037 for Russell 2000 and 1,446.123 for S&P 500; 70% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.2%
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Cusip: | 22546VN85
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