Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.58 million contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 10 – Credit Suisse AG, London Branch priced $1.58 million of contingent coupon autocallable yield notes due June 29, 2018linked to the lowest performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7.5% if each index closes at or above its barrier level, 70% of its initial level, on a monthly observation date.
The notes will be called automatically if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $1,577,000
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| Maturity: | June 29, 2018
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| Coupon: | 7.5% per year, payable monthly if each index closes at or above its barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
|
| Call: | Automatically if each index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial levels: | 1,367.261 for Russell, 3,456.07 for Stoxx
|
| Barrier/knock-in levels: | 957.08275 for Russell, 2,425.549 for Stoxx; 70% of initial levels
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| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
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| Cusip: | 22548QVU6
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