Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $803,000 autocallable yield notes on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, March 21 – Credit Suisse AG, London Branch priced $803,000 of 7.5% autocallable yield notes due Sept. 23, 2019 linked to the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly trigger observation date starting June 18.
The payout at maturity will be par unless any index closes at or below its knock-in level, 70% of its initial level, during the life of the notes, in which case the payout will be par plus the return of the least-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $803,000
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| Maturity: | Sept 23, 2019
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| Coupon: | 7.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index closes at or below knock-in level on any day during life of notes, in which case par plus return of least-performing index, capped at par
|
| Call: | At par if each index closes at or above its initial level on any quarterly trigger observation date starting June 18
|
| Initial index levels: | 3,437.4 for Euro Stoxx 50, 1,586.048 for Russell 2000 and 2,752.01 for S&P 500
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| Knock-in levels: | 2,406.18 for Euro Stoxx 50, 1,110.2336 for Russell 2000 and 1,926.407 for S&P 500; 70% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.125%
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| Cusip: | 22550WJD0
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