Published on 3/8/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.28 million four-year autocalls tied to indexes
By Susanna Moon
Chicago, March 8 – Credit Suisse AG, London Branch priced $2.28 million of autocallable securities due Feb. 28, 2022 linked to the lesser performing of the S&P 500 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 an annual call premium of 10.1% if each index closes at or above its initial level on any observation date.
The payout at maturity will be par plus the contingent return of 40.4% unless either index finishes below its 70% knock-in level, in which case 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: | S&P 500 and Euro Stoxx 50
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Amount: | $2,283,000
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Maturity: | Feb. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10.1% unless either index finishes below knock-in level, in which full exposure to the losses of worse performing index
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Call: | At par plus 12.35% if each index closes at or above initial level on Feb. 19, 2019, Feb. 19, 2020 or Feb. 19, 2021
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Initial levels: | 3,426.80 for Stoxx and 2,732.22 for S&P
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Knock-in levels: | 2,398.76 for Stoxx and 1,912.554 for S&P, 70% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22550WC88
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