Published on 10/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Jan. 24, 2020 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 5.25% if each asset closes at or above its coupon barrier, 60% of its initial level, on the observation date.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any asset finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.
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 assets: | Russell 2000 index, Nasdaq-100 and iShares MSCI EAFE ETF
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| Amount: | $500,000
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| Maturity: | Jan. 24, 2020
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| Coupon: | 5.25% per year, payable quarterly if each asset 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 asset finishes below knock-in level, in which case full exposure to any losses of the least-performing asset
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| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly observation date after six months
|
| Initial levels: | 1,542.042 for Russell, 7,107.233 for Nasdaq, $63.74 for ETF
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| Barrier levels: | 925.2252 for Russell, 4,264.3398 for Nasdaq, $38.244 for ETF; 60% of initial levels
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| Knock-in levels: | 925.2252 for Russell, 4,264.3398 for Nasdaq, $38.244 for ETF; 60% of initial levels
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.325%
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| Cusip: | 22551LGN4
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