Published on 7/20/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.26 million contingent coupon autocallables tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, July 20 – Credit Suisse AG, London Branch priced $1.26 million of contingent coupon autocallable yield notes due Oct. 22, 2018 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 9.396% if each index closes at or above its 70% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes above its initial level on Jan. 17, 2018, April 17, 2018 or July 17, 2018.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst 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, Euro Stoxx 50 index
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Amount: | $1,262,000
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Maturity: | Oct. 22, 2018
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Coupon: | 9.396% per year, payable monthly, if each index closes at or above 70% coupon barrier level on observation date for period
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Price: | Par
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Call: | At par if each index closes above initial level on Jan. 17, 2018, April 17, 2018 or July 17, 2018
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Payout at maturity: | Par unless any index finishes below 70% knock-in level, in which case 1% loss for each 1% decline of worst performing index
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Initial levels: | 2,459.14 for S&P, 1,431.602 for Russell, 3,516.35 for Stoxx
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Knock-in levels: | 1,721.398 for S&P, 1,002.1214 for Russell, 2,461.445 for Stoxx; 70% of initial levels
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Pricing date: | July 17
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Settlement date: | July 20
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22550BD75
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