Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.14 million contingent coupon autocallable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 21 – Credit Suisse AG, London Branch priced $2.14 million of contingent coupon autocallable yield notes due June 21, 2019 linked to the lesser 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 9% if each index closes at or above its barrier level, 75% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on Sept. 18, 2018, Dec. 18, 2018 or March 18, 2019.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 75% 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
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Issue: | Contingent coupon autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2.14 million
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Maturity: | June 21, 2019
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Coupon: | 9% per year, payable monthly if each index closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its initial level and either closes below its knock-in level during life of notes, in which case full exposure to any losses of the lesser-performing index
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Call: | At par if each index closes above initial level on Sept. 18, 2018, Dec. 18, 2018 or March 18, 2019
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Initial index levels: | 1,586.048 for Russell 2000 and 2,752.01 for S&P 500
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Barriers/knock-in levels: | 1,189.536 for Russell 2000 and 2,064.0075 for S&P 500; 75% of initial levels
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Pricing date: | March 16
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Settlement date: | March 21
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1%
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Cusip: | 22550WFT9
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