Published on 8/7/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.98 million autocallable securities on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Credit Suisse AG, London Branch priced $5.98 million of 0% autocallable securities due July 31, 2020 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 12% if each underlying index closes at or above its initial level on any semiannual review date.
If the notes are not called, the payout at maturity will be par plus the contingent maximum return of 36% unless either underlying index finishes below 90% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000
|
| Amount: | $5,975,000
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| Maturity: | July 31, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 36% if each index finishes above 90% of its initial level; otherwise, investors will be fully exposed to any decline of the lesser performing index
|
| Call: | Automatically at par plus annualized redemption premium of 12% if each underlying closes at or above its initial level on any semiannual review date
|
| Initial index levels: | 3,491.19 for Stoxx, 1,442.279 for Russell
|
| Threshold levels: | 3,142.071 for Stoxx and 1,298.0511 for Russell, 90% of initial levels
|
| Knock-in levels: | 2,443.833 for Stoxx and 1,009.5953 for Russell, 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22550BCR2
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