Published on 9/8/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $490,000 contingent coupon autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Credit Suisse AG, London Branch priced $490,000 of contingent coupon autocallable yield notes due Sept. 10, 2018 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 7.5% if each index closes at or above 70% of its initial level 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 quarterly observation date on or after March 6, 2017.
The payout at maturity will be par unless any index closes at or below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
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 and Euro Stoxx 50
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| Amount: | $490,000
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| Maturity: | Sept. 10, 2018
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.5% per year unless any index closes below barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial index level on any quarterly observation date beginning March 6, 2017
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| Initial index levels: | 2,186.48 for S&P 500, 1,253.37 for Russell and 3,070.16 for Stoxx
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| Barrier levels: | 1,530.536 for S&P 500, 877.359 for Russell, and 2,149.112 for Stoxx; 70% of initial levels
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| Pricing date: | Sept. 6
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| Settlement date: | Sept. 9
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.95%
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| Cusip: | 22548QGH2
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