Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.05 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 7 – Credit Suisse AG, London Branch priced $1.05 million of contingent coupon autocallable yield notes due Dec. 31, 2018 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 6.5% if each index closes at or above its barrier level, 75% of its initial level, on a monthly observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call date beginning Dec. 26, 2017.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses 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: | S&P 500, Russell 2000
|
Amount: | $1,051,000
|
Maturity: | Dec. 31, 2018
|
Coupon: | 6.5% per year, payable monthly if each index closes at or above its barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below its initial level and either index closes below its 70% knock-in level during the life of the notes, in which case full exposure to any losses of the lesser-performing index
|
Call: | At par if each index closes above initial level on any quarterly call date beginning Dec. 26, 2017
|
Initial levels: | 1,403.522 for Russell 2000 and 2,419.38 for S&P 500
|
Barriers/knock-in levels: | 1,052.6415 for Russell 2000 and 1,814.535 for S&P 500, 75% of initial levels
|
Pricing date: | June 27
|
Settlement date: | June 30
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.65%
|
Cusip: | 22550B6T5
|
|
© 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.