Published on 5/28/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.29 million contingent coupon autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 28 – Credit Suisse AG, London Branch priced $1.29 million of contingent coupon autocallable yield notes due Feb. 22, 2021 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6% if each index closes at or above its barrier level, 70% 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 trigger observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will fully participate in the return of least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
|
| Amount: | $1.29 million
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| Maturity: | Feb. 22, 2021
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its 70% knock-in level, in which case investors will fully participate in the return of least-performing index
|
| Call: | At par if each index closes above initial level on any quarterly trigger observation date after six months
|
| Initial levels: | 2,859.53 for S&P, 1,535.763 for Russell and 25,764.00 for Dow
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| Coupon barrier levels: | 2,001.67 for S&P, 1,075.034 for Russell and 18,034.80 for Dow, 70% of initial levels
|
| Knock-in levels: | 2,001.67 for S&P, 1,075.034 for Russell and 18,034.80 for Dow, 70% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22552FFH0
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