Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.31 million contingent coupon autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 19 – Credit Suisse AG, London branch priced $3.31 million of contingent coupon autocallable yield notes due Jan. 21, 2020 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.75% if each underlying index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are called at par if each index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless either underlying index ever 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 worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | Russell 2000, S&P 500
|
Amount: | $3,305,000
|
Maturity: | Jan. 21, 2020
|
Coupon: | 6.75% annualized, payable quarterly if each index closes at or above 75% coupon barrier on observation date that quarter
|
Price: | Par
|
Payout at maturity: | If each index never closes below knock-in level, par; otherwise, 1% loss for each 1% decline of worse performing index
|
Call: | At par if each index closes at or above its initial level on any determination date other than final date
|
Initial levels: | 1,678.544 for Russell and 2,798.43 for S&P
|
Trigger levels: | 1,258.908 for Russell and 2,098.8225 for S&P, 75% of initial levels
|
Pricing date: | July 16
|
Settlement date: | July 19
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.65%
|
Cusip: | 22550WYX9
|
|
© 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.