Published on 9/18/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.07 million contingent coupon autocallable yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 18 – Credit Suisse AG, London Branch priced $1.07 million of contingent coupon autocallable yield notes due Dec. 11, 2019 linked to the lesser 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 quarterly coupon at an annualized rate of 8.1% if each index closes at or above its barrier level, 75% 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 quarterly autocall observation date.
The payout at maturity will be par unless either index finishes below its 75% knock-in, 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
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1,071,000
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| Maturity: | Dec. 11, 2019
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| Coupon: | 8.1% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to any losses of the lesser-performing index
|
| Call: | At par if each index closes above initial level on any quarterly autocall observation date
|
| Initial levels: | 1,714.468 for Russell and 3,295.95 for Stoxx
|
| Barrier levels: | 1,285.851 for Russell and 2,471.9625 for Stoxx; 75% of initial levels
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| Knock-in levels: | 1,285.851 for Russell and 2,471.9625 for Stoxx; 75% of initial levels
|
| Pricing date: | Sept. 6
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| Settlement date: | Sept. 11
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.125%
|
| Cusip: | 22551L4V9
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