Published on 3/29/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $249,000 contingent coupon autocallable yield notes on Stoxx, EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, March 29 – Credit Suisse AG, London Branch priced $249,000 of contingent coupon autocallable yield notes due June 28, 2019 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7% if the each asset closes at or above its barrier level, 75% of its initial level, on the observation date.
The notes will be called at par if each asset closes above its initial level on a quarterly call date after six months.
The payout at maturity will be par unless either finishes below its initial level and closes below its 75% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser performing asset.
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 assets: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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| Amount: | $249,000
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| Maturity: | June 28, 2019
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| Coupon: | 7% per year, payable monthly if each asset closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below its initial level and ever closes below its knock-in level during life of notes, in which case full exposure to any losses of laggard asset
|
| Call: | At par if ETF closes above initial level on a quarterly call date after six monts
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| Initial levels: | $69.16 for ETF, 3,278.72 for Stoxx
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| Barrier level/knock-in levels: | $51.87 for ETF, 2,459.0 for Stoxx; 75% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22550WH91
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