By Angela McDaniels
Tacoma, Wash., Oct. 7 – Credit Suisse AG, London Branch priced $511,000 of contingent coupon autocallable yield notes due Sept. 30, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 6.4% per year if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter.
Beginning Sept. 26, 2017, the notes will be automatically redeemed at par plus the contingent coupon if the closing level of each index is greater than or equal to its initial level on any quarterly observation date.
If the notes are not called and the final index level of each index is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lowest-performing index’s final level is less than its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $511,000
|
| Maturity: | Sept. 30, 2025
|
| Coupon: | Each quarter, notes pay coupon at rate of 6.4% per year if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to knock-in level, par; otherwise, 1% loss for each 1% that lowest-performing index’s final level is less than initial level
|
| Call: | Beginning Sept. 26, 2017, notes will be automatically redeemed at par plus contingent coupon if closing level of each index is greater than or equal to initial level on any quarterly observation date
|
| Initial levels: | 1,931.340 for S&P 500 and 1,122.789 for Russell 2000
|
| Barrier levels: | 965.670 for S&P 500 and 561.395 for Russell 2000; 50% of initial levels
|
| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.75%
|
| Cusip: | 22546VLK0
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