Published on 9/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.28 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 19 – Credit Suisse AG, London Branch priced $1.28 million of contingent coupon autocallable yield notes due Sept. 15, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8.2% if each index closes at or above its barrier level, 75% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly autocall observation date.
The payout at maturity will be par unless any index finishes below its 75% knock-in, in which case investors will be fully exposed to any losses of the least-performing index.
J.P. Morgan Securities 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: | Russell 2000, S&P 500, Euro Stoxx 50
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Amount: | $1,275,000
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Maturity: | Sept. 15, 2019
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Coupon: | 8.2% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
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Call: | At par if each index closes above initial level on any quarterly call observation date
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Initial levels: | 3,293.36 for Stoxx, 1,713.18 for Russell, 2,871.68 for S&P
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Barrier levels: | 2,470.02 for Stoxx, 1,284.885 for Russell, 2,153.76 for S&P; 75% of initial levels
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Knock-in levels: | 2,470.02 for Stoxx, 1,284.885 for Russell, 2,153.76 for S&P; 75% of initial levels
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Pricing date: | Sept. 7
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Settlement date: | Sept. 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 22551LAX8
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