Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on indexes
By Kiku Steinfeld
Chicago, July 30 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due July 18, 2024 linked to the lowest performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 5% if each index closes at or above its coupon barrier level, 70% 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 any quarterly trigger observation date after one year.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will fully participate in the return of least-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, Dow Jones industrial average, Nasdaq-100
|
| Amount: | $500,000
|
| Maturity: | July 18, 2024
|
| Coupon: | 5% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to loss of least-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly trigger observation date after one year
|
| Initial levels: | 1561.820 for Russell, 27359.16 for Dow, 7966.926 for Nasdaq
|
| Coupon barrier levels: | 1093.274 for Russell, 19151.412 for Dow, 5576.8482 for Nasdaq, 70% of initial levels
|
| Knock-in levels: | 937.092 for Russell, 16415.496 for Dow, 4780.1556 for Nasdaq, 60% of initial levels
|
| Pricing date: | July 15
|
| Settlement date: | July 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.925%
|
| Cusip: | 22552FP48
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