Published on 5/15/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $790,000 contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 15 – Credit Suisse AG, London Branch priced $790,000 of contingent coupon autocallable yield notes due May 11, 2021 linked to the lowest performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 6.15% if each index closes at or above its barrier level, 70% of its initial level, on the observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call date after six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the least-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, Euro Stoxx 50 Russell 2000
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| Amount: | $790,000
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| Maturity: | May 11, 2021
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| Coupon: | 6.15% per year, payable monthly 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 any index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
|
| Call: | At par if each index closes above initial level on any quarterly call date after six months
|
| Initial levels: | 3,557.88 for Stoxx, 1,586.392for Russell, 2,671.92 for S&P
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| Barrier/knock-in levels: | 2,490.516 for Stoxx, 1,110.4744 for Russell, 1,870.344 for S&P; 70% of initial levels
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| Pricing date: | May 8
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| Settlement date: | May 11
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.85%
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| Cusip: | 22550WTG2
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