Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.03 million contingent coupon autocallables on S&P, Russell
By Tali Rackner
Minneapolis, Dec. 29 – Credit Suisse AG, London Branch priced $1.03 million of contingent coupon autocallable yield notes due June 27, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.25% per year unless either index closes below its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial index level on any quarterly trigger observation date.
The payout at maturity will be par unless either index closes below its 75% knock-in level on any day during the observation period, in which case the payout will be par plus the return 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: | S&P 500 and Russell 2000
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| Amount: | $1,027,000
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| Maturity: | June 27, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.25% per year unless either index closes below coupon barrier level on observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless either index closes below knock-in level on any day during the observation period, in which case par plus return of lesser-performing index
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| Call: | Automatically at par if each index closes at or above initial index level on any quarterly trigger observation date
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| Initial index levels: | 2,684.57 for S&P and 1,547.107 for Russell
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| Knock-in/barrier levels: | 2,013.4275 for S&P and 1,160.33025 for Russell; 75% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.65%
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| Cusip: | 22550BQT3
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