Published on 1/31/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $312,000 7.6% contingent coupon autocalls on indexes
By Tali Rackner
Minneapolis, Jan. 31 – Credit Suisse AG, London Branch priced $312,000 of contingent coupon autocallable yield notes due July 26, 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.
The notes will pay a contingent monthly coupon at an annualized rate of 7.6% if each index closes at or above its 75% coupon barrier on an observation date for that month.
The notes will be called at par if each index closes at or above its initial level on Jan. 23, 2019 or April 23, 2019.
The payout at maturity will be par unless either index ever closes below its 75% knock-in level during the life of the notes, 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: | S&P 500, Russell 2000
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| Amount: | $312,000
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| Maturity: | July 26, 2019
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| Coupon: | 7.6% annualized, payable monthly if each index closes at or above its 75% barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below knock-in level, in which case 1% loss for each 1% decline of lesser-performing index
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| Call: | At par if each index closes at or above its initial level on Jan. 23, 2019 or April 23, 2019
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| Initial levels: | 2,839.13 for S&P, 1,610.706 for Russell
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| Knock-in/coupon barrier levels: | 2,129.3475 for S&P, 1,208.0295 for Russell; 75% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.9%
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| Cusip: | 22550W6C6
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