Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.31 million contingent coupon autocallable yield notes on indexes
By Tali Rackner
Minneapolis, April 17 – Credit Suisse AG, London Branch priced $1.31 million of contingent coupon autocallable yield notes due July 12, 2019 linked to 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 contingent coupon at an annual rate of 8.45% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either index has finished below its 65% knock-in level on any day 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,311,000
|
| Maturity: | July 12, 2019
|
| Coupon: | 8.45% per year, payable quarterly if each index closes at or above its barrier level on a quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index has finished below knock-in level on any day during the life of the notes, in which case full exposure to the losses of the lesser-performing index
|
| Call: | Automatically if each index closes at or above its initial level on any quarterly trigger observation date
|
| Initial levels: | 2,613.16 for S&P, 1,514.463 for Russell
|
| Coupon barriers/knock-in levels: | 1,698.554 for S&P, 984.40095 for Russell; 65% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 12
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22550WMC8
|
|
|
|
|
© 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.
