Published on 4/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.4 million contingent coupon autocallable yield notes on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, April 10 – Credit Suisse AG, London Branch priced $1.4 million of contingent coupon autocallable yield notes due Oct. 7, 2019 linked to the lesser performing of 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.
The notes will pay a quarterly coupon at an annualized rate of 6.8% if each index closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any observation date after six months.
The payout at maturity will be par unless any index finishes below its 60% 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, S&P 500 and Russell 2000
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| Amount: | $1.4 million
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| Maturity: | Oct. 7, 2019
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| Coupon: | 6.8% per year, payable quarterly if each index closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
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| Call: | At par if each index closes above initial level on any observation date after six months
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| Initial levels: | 3,298.07 for Stoxx, 1,510.083 for Russell and 2,588.26 for S&P
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| Barriers/knock-in levels: | 1,978.842 for Stoxx, 906.0498 for Russell and 1,552.956 for S&P; 60% of initial levels
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| Pricing date: | March 29
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| Settlement date: | April 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 22550WM95
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