Published on 7/14/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million autocallable yield notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 14 – Credit Suisse AG, London Branch priced $1 million of autocallable yield notes due Oct. 12, 2018 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 5% per year, and interest will be payable monthly.
The notes will be called at par 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 closes below its trigger level, 76% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 and Russell 2000
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| Amount: | $1 million
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| Maturity: | Oct. 12, 2018
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| Coupon: | 5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below trigger level during the life of the notes and return of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index
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| Call: | At par if each index closes at or above the initial level on any quarterly observation date after six months
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| Initial index levels: | 2,425.18 for S&P, 1,415.835 for Russell
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| Trigger levels: | 1,843.1368 for S&P, 1,076.0346 for Russell, 76% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22550BCQ4
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