Published on 3/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million autocallable securities on S&P 500, Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., March 26 – Credit Suisse AG, London Branch priced $1 million of 0% autocallable securities due March 23, 2020 linked to the lowest performing of 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 be automatically called at par plus a premium of 11.05% if each underlying index closes at or above its initial level on March 21, 2019.
If each index finishes at or above its 80% knock-in level, the payout at maturity will be par plus 22.1%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500, Euro Stoxx 50
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Amount: | $1 million
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Maturity: | March 23, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its knock-in level, par plus 22.1%; otherwise, 1% loss for each 1% decline of the lesser-performing index
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Call: | Automatically at par plus a premium of 11.05% if each underlying index closes at or above its initial level on March 21, 2019
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Initial index levels: | 2,716.94 for S&P, 3,412.08 for Euro Stoxx
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Knock-in levels: | 2,173.552 for S&P, 2,729.66 for Euro Stoxx; 80% of initial levels
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Agent: | Credit Suisse Securities (USA) LLC
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Pricing date: | March 20
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Settlement date: | March 23
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Fees: | 1.25%
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Cusip: | 22550WL62
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