Published on 9/28/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $9.26 million buffered autocallables on two indexes
By Marisa Wong
Morgantown, W.Va., Sept. 28 – Credit Suisse AG, London Branch priced $9.26 million of 0% autocallable buffered return equity securities due March 17, 2020 linked to the lowest performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9.7% annualized premium if both indexes close at or above their initial levels either of two semiannual call dates.
If the notes are not called, investors will receive par plus 14.55% if each index finishes at or above its initial level. Investors will receive par if the lesser performing index falls by up to 20% and will lose 1.25% for each 1% decline of the worse performing index beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $9,259,000
|
| Maturity: | March 17, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 14.55% if each index finishes at or above initial level; par if lesser performing index falls by up to 20%; 1.25% loss for each 1% drop of lesser performing index beyond 20%
|
| Call: | Automatically at par plus 9.7% annualized redemption premium if each index closes above its initial level on either of two semiannual call dates
|
| Initial levels: | 1,718.404 for Russell, 2,887.89 for S&P
|
| Buffer levels: | 1,374.7232 for Russell, 2,310.312 for S&P, 80% of initial levels
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.2%
|
| Cusip: | 22551LBE9
|
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