Published on 5/2/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $285,000 6% autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 2 – Credit Suisse AG, London Branch priced $285,000 of 6% autocallable yield notes due May 3, 2018 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes above its initial level on any quarterly call date beginning Oct. 31.
The payout at maturity will be par unless either index closes below its 70% knock-in level and day during the life of the notes and either index finishes below its initial 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
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $285,000
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Maturity: | May 3, 2018
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Coupon: | 6% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its initial level and either index closes below knock-in level during life of notes, in which case full exposure to any losses of the lesser-performing index
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Call: | At par if each index closes above initial level on any quarterly call date beginning Oct. 31
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Initial levels: | 1,400.428 for Russell, 2,384.20 for S&P
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Knock-in levels: | 980.2996 for Russell, 1,668.94 for S&P; 70% of initial levels
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Pricing date: | April 28
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Settlement date: | May 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.85%
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Cusip: | 22548QYS8
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