Published on 2/12/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.14 million 7.1% contingent coupon autocalls tied to indexes
By Susanna Moon
Chicago, Feb. 12 – Credit Suisse AG, London Branch priced $5.14 million of autocallable contingent coupon notes due May 1, 2019 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.1% if each index closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any call observation date.
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 exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $5,144,000
|
| Maturity: | May 1, 2019
|
| Coupon: | 7.1% annualized, payable quarterly if each index closes at or above its 75% coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below 75% knock-in level, in which case 1% loss per 1% decline of worse performing index
|
| Call: | At par if each index closes at or above its initial level on any interest payment date
|
| Initial index levels: | 1,598.109 for Russell and 3,643.04 for Stoxx
|
| Knock-in levels: | 1,198.58175 for Russell and 2,732.28 for Stoxx; 75% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.125%
|
| Cusip: | 22550WBE6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
