Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $788,000 contingent coupon autocallables linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., June 5 – Credit Suisse AG, London Branch priced $788,000 of contingent coupon autocallable yield notes due Sept. 5, 2018 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 7.75% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each index closes at or above its initial index level on Nov. 30, 2017, Feb. 28, 2018 or May 31, 2018.
The payout at maturity will be par unless either index closes below its knock-in level during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $788,000
|
| Maturity: | Sept. 5, 2018
|
| Coupon: | Each month, notes pay contingent coupon at rate of 7.75% per year unless either index closes below knock-in level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below knock-in level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial index level on Nov. 30, 2017, Feb. 28, 2018 or May 31, 2018
|
| Initial index levels: | 3,554.59 for Euro Stoxx 50 and 1,370.208 for Russell 2000
|
| Knock-in levels: | 2,488.213 for Euro Stoxx 50 and 959.146 for Russell 2000; 70% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22550B2Y8
|
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