Published on 7/14/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.53 million contingent coupon autocallables tied to indexes
By Susanna Moon
Chicago, July 14 – Credit Suisse AG, London Branch priced $5.53 million of contingent coupon autocallable yield notes due Oct. 9, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes above its initial level on any quarterly call date.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline 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 index, Russell 2000 index
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| Amount: | $5,527,000
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| Maturity: | Oct. 9, 2018
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| Coupon: | 7% per year, payable monthly, if each index closes at or above 70% coupon barrier level on observation date for month
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| Price: | Par
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| Call: | At par if each index closes above initial level on Jan. 1, 2018, April 3, 2018 or July 2, 2018
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| Payout at maturity: | Par unless either index finishes below 70% knock-in level, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 2,423.41 for S&P, 1,415.359 for Russell
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| Knock-in levels: | 1,696.387 for S&P, 990.7513 for Russell; 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550B5V1
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