Published on 8/11/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.94 million contingent coupon autocallables on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – Credit Suisse AG, London Branch priced $1.94 million of contingent coupon autocallable yield notes due Nov. 5, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 8.5% if each index closes at or above its 70% barrier on a monthly observation date.
The notes will be called at par if each index closes above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its 70% knock-in level during the life of the notes, 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: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $1,939,000
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| Maturity: | Nov. 5, 2018
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| Coupon: | 8.5% per year, payable monthly if each index 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 index finishes below its 70% knock-in level during the life of the notes, in which case par plus return of worse performing index with full exposure to any losses
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| Call: | At par if each index closes above initial level on any quarterly observation date
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| Initial levels: | 1,425.144 for Russell, 3,449.36 for Stoxx
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| Barrier/knock-in levels: | 997.601 for Russell, 2,414.552 for Stoxx, 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550BBE2
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