Published on 10/5/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.39 million contingent coupon autocallables linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 5 – Credit Suisse AG, London Branch priced $3.39 million of contingent coupon autocallable yield notes due Oct. 5, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each index closes at or above its initial index level on March 31, 2017 or June 29, 2017.
The payout at maturity will be par unless either index closes below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the lesser-performing index, subject to a maximum payout of par.
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: | $3,387,000
|
| Maturity: | Oct. 5, 2017
|
| Coupon: | Each month, notes pay contingent coupon at rate of 8% per year unless either index closes below knock-in level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below knock-in level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial index level on March 31, 2017 or June 29, 2017
|
| Initial index levels: | 2,168.27 for S&P 500 and 1,251.6461 for Russell 2000
|
| Knock-in levels: | 1,517.789 for S&P 500 and 876.1523 for Russell 2000; 70% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.85%
|
| Cusip: | 22548QG66
|
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