Published on 8/9/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.75 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – Credit Suisse AG, London Branch priced $1.75 million of 0% autocallable securities due Aug. 13, 2022 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 6.2% if each underlying index closes at or above its initial level on any annual review date.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus the contingent return of 31%. If any index falls but each index finishes at or above its 50% knock-in level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1.75 million
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| Maturity: | Aug. 13, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 31% if each index finishes at or above initial level; par if any index falls but none finish below knock-in level; otherwise, investors will be fully exposed to any decline of the least performing index
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| Call: | Automatically at par plus annualized redemption premium of 6.2% if each index closes at or above its initial level on any annual review date
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| Initial levels: | 2,881.77 for S&P, 1,502.086 for Russell, 26,029.52 for Dow
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| Knock-in levels: | 1,440.885 for S&P, 751.043 for Russell, 23,014.76 for Dow; 50% of initial levels
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 13
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 22552FSA1
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