Published on 4/18/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.62 million trigger autocallables linked to S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., April 18 – Credit Suisse AG, London Branch priced $2.62 million of trigger autocallable contingent yield notes due April 22, 2022 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.6% if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
Beginning Oct. 16, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $2,624,000
|
| Maturity: | April 22, 2022
|
| Coupon: | 8.6%, payable quarterly if indexes close at or above downside thresholds on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index from initial level
|
| Call: | Beginning Oct. 16, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 2,907.06 for S&P 500 and 3,463.36 for Euro Stoxx 50
|
| Downside thresholds: | 2,034.94 for S&P 500 and 2,424.35 for Euro Stoxx 50, or 70% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 22550F211
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
