Published on 5/4/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $156,000 contingent coupon autocallable yield notes on Stoxx, ETF
By Wendy Van Sickle
Columbus, Ohio, May 4 – Credit Suisse AG, London Branch priced $156,000 of contingent coupon autocallable yield notes due Aug. 5, 2019 linked to the least performing of the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 9% if each asset closes at or above its coupon barrier, 75% of its initial level, on the observation date.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either asset finishes below its initial level and any asset closes below its 75% knock-in level any day during the life of the notes, in which case investors will be fully exposed to any losses of the least-performing asset.
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 assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $156,000
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| Maturity: | Aug. 5, 2019
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| Coupon: | 9% per year, payable monthly if each asset closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below its initial level and either closes below its knock-in level any day during life of notes, in which case full exposure to any losses of the least-performing asset
|
| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly observation date after six months
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| Initial levels: | 3,536.52 for Stoxx, $70.74 for ETF
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| Barrier/knock-in levels: | 2,652.39 for Stoxx, $53.055 for ETF; 75% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550WLQ8
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