Published on 11/4/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.09 million contingent coupon autocallable yield notes on indexes
By Tali Rackner
Norfolk, Va., Nov. 4 – Credit Suisse AG, London Branch priced $2.09 million of contingent coupon autocallable yield notes due Jan. 31, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 7.5% if each index closes at or above its coupon barrier level, 75% of the initial level, on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level, on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2,092,000
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| Maturity: | Jan. 31, 2018
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| Contingent payment: | 7.5% per year, payable monthly if each index closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below knock-in level, in which case exposure to decline of worse performing index
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| Call: | Automatically at par plus contingent payment if each index closes above initial level on any quarterly observation date
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| Initial index levels: | 2,139.43 for S&P, 1,204.749 for Russell
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| Coupon barrier/knock-in levels: | 1,604.5725 for S&P, 903.56175 for Russell, 75% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22548QJX4
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