Published on 3/2/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.26 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 2 – Credit Suisse AG, London Branch priced $1.26 million of contingent coupon autocallable yield notes due May 29, 2018 linked to the lowest performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7.5% if each index closes at or above its barrier level, 70% of its initial level, on a monthly observation date.
The notes will be called automatically if each index closes at or above its initial level on any quarterly observation date beginning Aug. 23.
The payout at maturity will be par unless either index has closed below its 70% knock-in level any day during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC 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: | Euro Stoxx 50, Russell 2000
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Amount: | $1,264,000
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Maturity: | May 29, 2018
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Coupon: | 7.5% per year, payable monthly if each index closes at or above its barrier level on monthly observation date
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Price: | Par
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Payout at maturity: | Par unless either index has closed below its knock-in level any day during life of notes, in which case investors full exposure to any losses of the lesser-performing index
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Call: | Automatically if each index closes at or above its initial level on any quarterly observation date beginning Aug. 23
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Initial levels: | 1,394.623 for Russell, 3,333.96 for Stoxx
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Barrier/knock-in levels: | 976.2361 for Russell, 2,333.72 for Stoxx; 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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