Published on 7/24/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $806,000 autocallable securities on three indexes
By Marisa Wong
Morgantown, W.Va., July 24 – Credit Suisse AG, London Branch priced $806,000 of 0% autocallable securities due Jan. 27, 2020 linked to the S&P 500 index, 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 automatically called at par plus an annualized redemption premium of 9.5% if each underlying index closes at or above its initial level on any semiannual 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 maximum return of 23.75%. If any index finishes below its initial level but none of the indexes finish below the 70% knock-in level, the payout will be par plus the contingent minimum return of 10%. 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
|
| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $806,000
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| Maturity: | Jan. 27, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 23.75% if each index finishes at or above initial level; par plus 10% if any index falls but no index finishes below 70% knock-in level; otherwise, investors will be fully exposed to any decline of the least performing index
|
| Call: | Automatically at par plus annualized redemption premium of 9.5% if each index closes at or above its initial level on any semiannual review date
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| Initial levels: | 2,473.45 for S&P, 1,442.354 for Russell and 3,499.49 for Euro Stoxx
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| Knock-in levels: | 1,731.415 for S&P, 1,009.6478 for Russell, 2,449.643 for Euro Stoxx; 70% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.7%
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| Cusip: | 22550BDA8
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