Published on 6/26/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $377,000 autocallable securities on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 26 – Credit Suisse AG, London Branch priced $377,000 of 0% autocallable securities due June 28, 2023 linked to the Russell 2000 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 an annualized redemption premium of 13.1% if each underlying index closes at or above its call level, on any annual review date. The call level will be equal to the initial level.
If the notes are not called, the payout at maturity will be par plus the contingent return of 52.4% if each index finishes above its initial level.
If either index falls by up to 35%, the payout will be par plus 10%.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $377,000
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| Maturity: | June 28, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 52.4% if each index finishes above its initial level; if either index falls by up to 35%, par plus 10%; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus annualized redemption premium of 13.1% if each underlying closes at or above call level on any annual review date; call level is 100% of initial level
|
| Initial levels: | 1,549.628 for Russell, 3,466.92 for Stoxx
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| Threshold levels: | 1,007.2582 for Russell, 2,253.498 for Stoxx; 65% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 28
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22552FJG8
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