Published on 11/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.68 million contingent coupon autocallable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Nov. 2 – Credit Suisse AG, London Branch priced $4.68 million of contingent coupon autocallable yield notes due Oct. 30, 2025 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.8% per year unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Oct. 26, 2016, 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 knock-in level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $4.68 million
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.8% per year unless either index closes below coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning Oct. 26, 2016, automatically at par if each index closes at or above initial index level on any quarterly observation date
|
| Initial index levels: | 3,421,09 for Euro Stoxx 50 and 1,178.716 for Russell 2000
|
| Coupon barriers: | 2,394.763 for Euro Stoxx 50 and 825.1012 for Russell 2000; 70% of initial levels
|
| Knock-in levels: | 1,710.545 for Euro Stoxx 50 and 589.358 for Russell 2000; 50% of initial levels
|
| Pricing date: | Oct. 28
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| Settlement date: | Oct. 30
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| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.27%
|
| Cusip: | 22546VPM2
|
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