Published on 5/13/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.92 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 13 – Credit Suisse AG, London Branch priced $1.92 million of contingent coupon autocallable yield notes due Nov. 13, 2020 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 9% 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.
The payout at maturity will be par unless any index closes below its 70% knock-in during the life of the notes, in which case investors will fully participate in the return of least-performing index, subject to a maximum payout of par.
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: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $1,919,000
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| Maturity: | Nov. 13, 2020
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| Coupon: | 9% per year, payable quarterly if each index 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 closes below its knock-in level during the life of the notes, in which case investors will fully participate in the return of least-performing index, subject to a maximum payout of par
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| Call: | At par if each index closes above initial level on any quarterly trigger observation date
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| Initial levels: | 2,879.42 for S&P, 1,574.975 for Russell and 25,967.33 for Dow
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| Coupon barrier levels: | 2,015.594 for S&P, 1,102.4825 for Russell and 18,177.131 for Dow, 70% of initial levels
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| Knock-in levels: | 2,015.594 for S&P, 1,102.4825 for Russell and 18,177.131 for Dow, 70% of initial levels
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| Pricing date: | May 8
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| Settlement date: | May 13
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.625%
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| Cusip: | 22552FEA6
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