Published on 10/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $747,000 contingent coupon autocallable yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Credit Suisse AG, London Branch priced $747,000 of contingent coupon autocallable yield notes due Jan. 4, 2019 linked to the lowest performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 8% if each index closes at or above its barrier level, 70% of its initial level, on a monthly observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call date beginning March 29, 2018.
The payout at maturity will be par unless either index finishes below its 70% knock-in 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: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $747,000
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| Maturity: | Jan. 4, 2019
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| Coupon: | 8% per year, payable monthly if each index closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
|
| Call: | At par if each index closes above initial level on any quarterly call date beginning March 29, 2018
|
| Initial levels: | 3,594.85 for Stoxx, 1,490.861 for Russell
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| Barriers/knock-in levels: | 2,516.395 for Stoxx, 1,043.6027 for Russell; 70% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550BGF4
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