Published on 4/27/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.07 million step-down trigger autocallables on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, April 27 – Credit Suisse AG, London Branch priced $9.07 million of 0% step-down trigger autocallable notes due April 27, 2022 linked to the lowest performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8.5% if each index closes at or above its initial level on an annual observation date or at or above its 65% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Step-down trigger autocallable notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $9,066,000
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Maturity: | April 27, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return with full exposure to any losses of the worse performing index
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Call: | At par plus a call return of 8.5% per year if each index closes at or above its initial level on any annual observation date after one year or at or above its 65% downside threshold on the final valuation date
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Initial levels: | 1,419.431 for Russell, 3,578.71 for Euro Stoxx
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Downside thresholds: | 922.63 for Russell, 2,326.16 for Euro Stoxx; 65% of initial levels
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Pricing date: | April 26
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Settlement date: | April 28
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Distributor: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 22549A729
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