Published on 3/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $941,000 contingent coupon buffered autocallables on indexes
By Marisa Wong
Morgantown, W.Va., March 26 – Credit Suisse AG, London Branch priced $941,000 of contingent coupon buffered autocallable yield notes due Sept. 22, 2025 linked to the least 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 contingent monthly coupon at an annualized rate of 6% if each index closes at or above its 77% coupon barrier on the related monthly observation date.
The notes will be called at par if each index closes at or above its initial level on any monthly observation date after one year.
The payout at maturity will be par unless either index falls by more than 23%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond the 23% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered autocallable yield notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $941,000
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| Maturity: | Sept. 22, 2025
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| Coupon: | 6% annualized, payable monthly if each index closes at or above its coupon barrier on related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 23%, in which case 1% loss for each 1% decline of worse performing index beyond 23%
|
| Call: | At par if each index closes at or above initial level on any monthly observation date after one year
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| Initial index levels: | 1,570.562 for Russell and 3,394.79 for Stoxx
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| Coupon barriers: | 1,209.33274 for Russell and 2,613.9883 for Stoxx; 77% of initial levels
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| Agent: | Credit Suisse Securities (USA) LLC
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| Pricing date: | March 19
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| Settlement date: | March 22
|
| Fees: | 4.75%
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| Cusip: | 22550WJL2
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