Published on 5/26/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $998,000 autocallables linked to S&P, Russell, Dow
By Angela McDaniels
Tacoma, Wash., May 26 – Credit Suisse AG, London Branch priced $998,000 of 0% autocallable securities due May 29, 2020 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 6.75% per year if each index closes at or above its initial level on any semiannual trigger observation date.
If the notes are not called, the payout at maturity will be par plus 20.25% if each index finishes at or above its initial level. The payout will be par plus 10% if either index finishes below its initial level but each index finishes at or above its knock-in level, 70% of its initial level. If either index finishes below its knock-in level, investors will be exposed to the decline of the lesser-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $998,000
|
| Maturity: | May 29, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 20.25% if each index finishes at or above initial level; par plus 10% if either index finishes below initial level but each index finishes at or above knock-in level; if either index finishes below knock-in level, exposure to decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus a premium of 6.75% per year if each index closes at or above initial level on any semiannual trigger observation date
|
| Initial index levels: | 2,404.39 for S&P 500, 1,382.509 for Russell 2000 and 21,012.42 for Dow
|
| Knock-in levels: | 1,683.073 for S&P 500, 967.7563 for Russell 2000 and 14,708.694 for Dow; 70% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.85%
|
| Cusip: | 22550B5D1
|
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