Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.29 million 7.4% contingent coupon autocalls tied to indexes
By Susanna Moon
Chicago, March 21 – Credit Suisse AG, London Branch priced $1.29 million of contingent coupon autocallable yield notes due Sept. 12, 2019 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.4% if each index closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date.
The payout at maturity will be par unless either index ever closes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,286,000
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| Maturity: | Sept. 12, 2019
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| Coupon: | 7.4% annualized, payable monthly if each index closes at or above its 75% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below 75% knock-in level, in which case 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any review date
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| Initial levels: | 1,574.533 for Russell, 24,801.36 for Dow
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| Barrier levels: | 1,180.89975 for Russell, 18,601.02 for Dow; 75% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.4%
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| Cusip: | 22550WFF9
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