Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $304,000 contingent coupon autocallables linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Credit Suisse AG, London Branch priced $304,000 of contingent coupon autocallable yield notes due Sept. 30, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year unless either index closes below its knock-in level, 75% of its initial level, on the observation date for that quarter.
Beginning March 27, 2017, the notes will be automatically called at par if each index closes at or above its initial index level on any quarterly trigger observation date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be exposed to the decline of the lesser-performing index from 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: | $304,000
|
| Maturity: | Sept. 30, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.5% per year unless either index closes below knock-in level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case exposure to decline of lesser-performing index from initial level
|
| Call: | Beginning March 27, 2017, automatically at par if each index closes at or above initial index level on any quarterly trigger observation date
|
| Initial index levels: | 2,159.93 for S&P 500 and 1,246.381 for Russell 2000
|
| Knock-in levels: | 1,619.95 for S&P 500 and 934.79 for Russell 2000; 75% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.45%
|
| Cusip: | 22548QFS9
|
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