Published on 11/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 autocallables tied to Stoxx 50, Russell
By Susanna Moon
Chicago, Nov. 28 – Credit Suisse AG, London Branch priced $500,000 of 0% autocallable securities due Nov. 29, 2021 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized redemption premium of 11.55% if each underlying index closes at or above its initial level on any annual review date.
If each index finishes at or above its initial level, the payout at maturity will be par plus the contingent maximum return of $462 per 1,000 principal amount.
If either index falls by up to its 70% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse 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: | Euro Stoxx 50, Russell 2000
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Amount: | $500,000
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Maturity: | Nov. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 46.2%; if either index falls by up to 30%, par plus 10%; otherwise, 1% loss per 1% decline of worse performing index
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Call: | At par plus annualized call premium of 11.55% if each underlying closes at or above its initial level on Nov. 19, 2018, Nov. 20, 2019 or Nov. 19, 2020
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Initial index levels: | 3,547.46 for Stoxx, 1,492.822 for Russell
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Knock-in levels: | 2,483.222 for Stoxx, 1,044.9754 for Russell, 70% of initial levels
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Pricing date: | Nov. 17
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Settlement date: | Nov. 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22550BQ63
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