Published on 2/7/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $7.88 million autocallable yield notes on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Credit Suisse AG, London Branch priced $7.88 million of 7.55% autocallable yield notes due May 5, 2021 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest rate will payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either index closes below its knock-in level, 75% of its initial level, on any day during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with the payout capped at par and with full exposure to losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $7,879,000
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| Maturity: | May 5, 2021
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| Coupon: | 7.55%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below knock-in level during life of notes, in which case par plus return of worse performing index with payout capped at par and with full exposure to losses
|
| Call: | At par if each index closes at or above the trigger level on a quarterly observation date after six months
|
| Initial levels: | 3,225.52 for S&P and 1,614.061 for Russell
|
| Knock-in levels: | 2,419.14 for S&P and 1,210.54575 for Russell, 75% of initial levels
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22551NJK3
|
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