Published on 1/20/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.82 million autocallable coupon buffered notes on indexes
By Tali Rackner
Norfolk, Va., Jan. 20 – Credit Suisse AG, London Branch priced $2.82 million of 5.8% autocallable coupon buffered securities due July 19, 2018 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 semiannually.
The notes will be automatically called at par if each index closes at or above its initial level on July 14, 2017 and Jan. 16, 2018.
The payout at maturity will be par unless either index’s final level is less than 80% of its initial level, in which case investors will lose 1.25% for each 1% that the lesser-performing index declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable coupon buffered notes
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Underlying indexes: | S&P 500 and Russell 2000 index
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Amount: | $2,816,000
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Maturity: | July 19, 2018
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Coupon: | 5.8%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless either index’s final level is less than 80% of its initial level, in which case 1.25% loss for each 1% that lesser-performing index declines beyond 20%
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Call: | Automatically at par if each index closes at or above initial level on July 14, 2017 and Jan. 16, 2018
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Initial levels: | 2,270.44 for S&P 500 and 1,361.066 for Russell 2000
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.3%
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Cusip: | 22548QT21
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