Published on 1/28/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $142,000 four-year autocalls tied to Russell, Stoxx
By Susanna Moon
Chicago, Jan. 28 – Credit Suisse AG, London branch priced $142,000 autocallable notes due Feb. 10, 2023 linked to the worse performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus 11.5% per year if each index closes at or above its initial level on any call observation date after one year.
The payout at maturity will be par plus 46% unless either index closes below its 70% 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 agent.
Issuer: | Credit Suisse AG, London branch
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Issue: | Autocallable notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $142,000
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Maturity: | Feb. 10, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above 70% knock-out, par plus 46%; otherwise, 1% loss for each 1% decline of worse performing index
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Call: | At par plus 11.5% per year if each index closes at or above its initial level on any call observation date beginning Feb. 7, 2020
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Initial levels: | 3,134.92 for Stoxx, 1,482.501 for Russell
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Trigger levels: | 2,194.444 for Stoxx, 1,037.7507 for Russell, 70% of initial levels
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Pricing date: | Jan. 18
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Settlement date: | Jan. 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22551LSK7
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