Published on 7/17/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.71 million autocallable coupon buffered notes tied to EAFE ETF, Russell
By Angela McDaniels
Tacoma, Wash., July 17 – Credit Suisse AG, London Branch priced $8.71 million of 5.15% autocallable coupon buffered securities due Jan. 18, 2019 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be automatically called at par if each underlier closes at or above its initial level on Jan. 12, 2018 or July 13, 2018.
The payout at maturity will be par unless either underlier’s final level is less than 80% of its initial level, in which case investors will lose 1.25% for each 1% that the lesser-performing underlier declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable coupon buffered notes
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Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
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Amount: | $8,712,000
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Maturity: | Jan. 18, 2019
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Coupon: | 5.15%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless either underlier’s final level is less than 80% of its initial level, in which case 1.25% loss for each 1% that lesser-performing underlier declines beyond 20%
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Call: | Automatically at par if each underlier closes at or above initial level on Jan. 12, 2018 or July 13, 2018
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Initial levels: | 1,424.321 for index and $65.67 for ETF
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Buffer levels: | 1,139.4568 for index and $52.536 for ETF; 80% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.15%
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Cusip: | 22550BD67
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