Published on 10/10/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.78 million autocallable coupon buffered notes on S&P, Russell
By Tali Rackner
Norfolk, Va., Oct. 10 – Credit Suisse AG, London Branch priced $2.78 million of 6% autocallable coupon buffered securities due April 11, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either index’s final level is less than 80% of its initial level, in which case investors will lose 1.25% for each 1% that the lesser-performing index declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable coupon buffered notes
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Underlying indexes: | S&P 500 and Russell 2000 index
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Amount: | $2,775,000
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Maturity: | April 11, 2018
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Coupon: | 6%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index’s final level is less than 80% of its initial level, in which case 1.25% loss for each 1% that lesser-performing index declines beyond 20%
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Call: | Automatically at par if each index closes at or above initial level on any quarterly trigger observation date
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Initial levels: | 2,150.49 for S&P 500 and 1,239.778 for Russell 2000
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Pricing date: | Oct. 5
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Settlement date: | Oct. 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.3%
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Cusip: | 22548QKX2
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