Published on 9/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $250,000 contingent coupon autocallable yield notes on Dow, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Credit Suisse AG, London Branch priced $250,000 of contingent coupon autocallable yield notes due Sept. 7, 2021 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Every quarter, the notes pay a contingent coupon at the rate of 11.65% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the related observation date.
The notes will be called at par if each index closes above its initial level on any observation date after six months.
The payout at maturity will be par unless any index finishes below its knock-in level, 80% of its initial level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
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: | Nasdaq-100, Russell 2000 and Dow Jones industrial average
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| Amount: | $250,000
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| Maturity: | Sept. 7, 2021
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| Coupon: | 11.65% per year, payable quarterly if each underlying asset 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 knock-in level, in which case exposure to decline of least-performing index
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| Call option: | Automatically at par plus if each index closes above initial level on any observation date after six months
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| Initial levels: | 7,587.869 for Nasdaq, 2,926.46 for Dow, 1,472.713 for Russell
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| Coupon barrier levels: | 6,070.3168 for Nasdaq, 20,828.88 for Dow, 1,178.1704 for Russell, 80% of initial levels
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| Knock-in levels: | 6,070.3168 for Nasdaq, 20,828.88 for Dow, 1,178.1704 for Russell, 80% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.4%
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| Cusip: | 22552FVJ8
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