Published on 6/18/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, June 18 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Dec. 16, 2019 linked to the least performing of the Euro Stoxx Select Dividend 30 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 6.5% if each asset closes at or above its coupon barrier, 70% of its initial level, on the observation date.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either asset finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | Euro Stoxx Select Dividend 30 index and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $500,000
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| Maturity: | Dec. 16, 2019
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| Coupon: | 6.5% per year, payable monthly if each asset closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below its knock-in level, in which case full exposure to any losses of the least-performing asset
|
| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly observation date
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| Initial levels: | 2,017.68 for Stoxx, $42.18 for ETF
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| Barrier/knock-in levels: | 1,412.376 for Stoxx, $29.526 for ETF; 70% of initial levels
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| Pricing date: | June 12
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| Settlement date: | June 15
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.325%
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| Cusip: | 22550WXH5
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