Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $754,000 contingent coupon autocallables on Russell, Stoxx
By Tali Rackner
Minneapolis, Jan. 2 – Credit Suisse AG, London Branch priced $754,000 of contingent coupon autocallable yield notes due March 27, 2019 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 7.25% per year unless either index closes below its coupon barrier level, 75% 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 June 22, 2028, Sept. 24, 2018 or Dec. 19, 2018.
The payout at maturity will be par unless either index closes below its 75% knock-in level on any day during the observation period, in which case the payout will be par plus the return 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: | Russell 2000 and Euro Stoxx 50
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| Amount: | $754,000
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| Maturity: | March 27, 2019
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| Coupon: | Each month, notes pay contingent coupon at rate of 7.25% per year unless either index closes below coupon barrier level on observation date for that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless either index closes below knock-in level on any day during the observation period, in which case par plus return of lesser-performing index
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| Call: | Automatically at par if each index closes at or above initial index level on June 22, 2028, Sept. 24, 2018 or Dec. 19, 2018
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| Initial index levels: | 1,547.107 for Russell and 3,570.78 for Euro Stoxx
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| Knock-in/barrier levels: | 1,160.33025 for Russell and 2,678.085 for Euro Stoxx; 75% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22550BQV8
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