Published on 12/14/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.84 million contingent income autocallables on indexes
By Sarah Lizee
Olympia, Wash., Dec. 14 – Credit Suisse AG, London Branch priced $4.84 million of contingent income autocallable securities due Dec. 16, 2019 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date beginning June 11, 2019.
The payout at maturity will be par unless any underlying index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent income securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $4,835,000
|
| Maturity: | Dec. 16, 2019
|
| Coupon: | 7.3% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 65% knock-in, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly call date beginning June 11, 2019
|
| Initial levels: | 2,636.78 for S&P, 1,440.134 for Russell and 6,704.237 for Nasdaq
|
| Coupon barriers: | 1,845.75 for S&P, 1,008.094 for Russell and 4,692.966 for Nasdaq, 70% of initial levels
|
| Knock-in levels: | 1,713.91 for S&P, 936.087 for Russell and 4,357.754 for Nasdaq, 65% of initial levels
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 14
|
| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 1.75%
|
| Cusip: | 22550BWP4
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
