Published on 10/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $609,000 autocallable securities on Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Credit Suisse AG, London Branch priced $609,000 of 0% autocallable securities due Oct. 19, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 16.5% per year if the index closes at or above the initial level on either of the first two annual observation dates.
If the final index level is greater than or equal to the knock-in level, 80% of the initial level, the payment at maturity will be the par plus 34.95%.
Investors will be exposed to any losses.
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 index: | Euro Stoxx 50
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Amount: | $609,000
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Maturity: | Oct. 19, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to knock-in level, par plus 34.95%; otherwise, 1% loss for each 1% index decline
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Call: | At par plus 16.5% per year if index closes at or above its initial level on either of the first two annual observation dates
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Initial level: | 3,257.34
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Knock-in level: | 2,605.872, 80% of initial level
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Pricing date: | Oct. 16
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Settlement date: | Oct. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.2%
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Cusip: | 22551LES5
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