Published on 9/23/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.23 million autocallable yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Sept. 23 – Credit Suisse AG, London Branch priced $1.23 million of 9.2% autocallable yield notes due March 24, 2017 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if each component closes at or above its initial level on Sept. 21, 2016 or Dec. 21, 2016.
A knock-in event will occur if either component closes at or below its knock-in level, 70% of the initial level, on any trading day during the life of the notes.
The payout at maturity will be par unless a knock-in event occurs, in which case the payout will be par plus the return of the lower-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,234,000
|
| Maturity: | March 24, 2017
|
| Coupon: | 9.2%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes at or below knock-in level during life of notes, in which case par plus return of worst-performing index, with maximum payout of par
|
| Call: | Automatically at par plus accrued interest if each index closes at or above its initial level on Sept. 21, 2016 or Dec. 21, 2016
|
| Initial levels: | 1,167.087 for Russell, 3,184.72 for Euro Stoxx
|
| Knock-in levels: | 816.9609 for Russell, 2,229.304 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 24
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.959%
|
| Cusip: | 22546VMH6
|
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