Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $353,000 autocallables linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Credit Suisse AG, London Branch priced $353,000 of 0% autocallable securities due Sept. 30, 2019 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 10% per year if each index closes at or above its initial level on Sept. 26, 2017 or Sept. 25, 2018.
If the notes are not called, the payout at maturity will be par plus 30% if each index finishes at or above its initial level. The payout will be par plus 10% if either index finishes below its initial level but each index finishes above its knock-in level, 75% of its initial level. If either index finishes at or below its knock-in level, investors will be exposed to the decline of the lesser-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $353,000
|
| Maturity: | Sept. 30, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 30% if each index finishes at or above initial level; par plus 10% if either index finishes below initial level but each index finishes above knock-in level; if either index finishes at or below knock-in level, exposure to decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus a premium of 10% per year if each index closes at or above initial level on Sept. 26, 2017 or Sept. 25, 2018
|
| Initial index levels: | 2,159.93 for S&P 500 and 1,246.381 for Russell 2000
|
| Knock-in levels: | 1,619.95 for S&P 500 and 934.79 for Russell 2000; 75% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.45%
|
| Cusip: | 22548QFX8
|
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