Published on 3/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.67 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 26 – Credit Suisse AG, London Branch priced $6.67 million of contingent coupon autocallable yield notes March 24, 2020 linked to the lowest performing of the S&P 500 index, the MSCI Emerging Markets index and the Tokyo Stock Price index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8.65% if each index closes at or above its barrier level, 65% of its initial level, on a quarterly observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call date.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the least-performing index.
J.P. Morgan 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, MSCI Emerging Markets, Tokyo Stock Price
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| Amount: | $6,671,000
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| Maturity: | March 24, 2020
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| Coupon: | 8.65% per year, payable quarterly if each index closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any either index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
|
| Call: | At par if each index closes above initial level on any quarterly call date
|
| Initial levels: | 1,727.39 for Tokyo Stock Price, 1,196.73 for Emerging Markets, 2,634.69 for S&P
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| Barrier/knock-in levels: | 1,122.8 for Tokyo Stock Price, 777.87 for Emerging Markets, 1,718.4 for S&P; 65% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | J.P. Morgan
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| Fees: | 1.5%
|
| Cusip: | 22550WLK1
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