Published on 5/13/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $809,000 autocallables linked to S&P 500, Russell
By Susanna Moon
Chicago, May 13 – Credit Suisse AG, London Branch priced $809,000 of 0% autocallable securities due May 16, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9% per year if each index closes at or above its initial level on any semiannual observation date.
A knock-in event occurs if either index ever closes at or below its knock-in level, 75% of its initial level, on any trading day during the life of the notes.
The payout at maturity will be par plus 9% unless a knock-in event occurs, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $809,000
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Maturity: | May 16, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index never dips below knock-in levels, par plus 9%; otherwise, full exposure to any losses of worse performing index
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Call: | At par plus 9% per year if each index closes at or above its initial level on any semiannual observation date
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Initial index levels: | 2,064.46 for S&P and 1,114.741 for Russell
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Knock-in levels: | 1,548.345 for S&P and 836.05575 for Russell; 75% of initial levels
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.825%
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Cusip: | 22548Q5S0
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