Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon autocallable yield notes on indexes
Chicago, April 1 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Sept. 28, 2020 linked to the lowest performing of the S&P 500 index, 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 10.1% if each index closes at or above its barrier level, 70% 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 trigger observation date.
The payout at maturity will be par unless any index finishes below its 70% knock-in during the life of the notes, in which case investors will fully participate in 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, Russell 2000, Euro Stoxx 50
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| Amount: | $1,000,000
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| Maturity: | Sept. 28, 2020
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| Coupon: | 10.1% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
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| Call: | At par if each index closes above initial level on any quarterly trigger observation date
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| Initial levels: | 2800.71 for S&P, 1505.923 for Russell and 3305.73 for Stoxx
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| Coupon barrier levels: | 1960.497 for S&P, 1054.1461 for Russell and 2314.011 for Stoxx, 70% of initial levels
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| Knock-in levels: | 1960.497 for S&P, 1054.1461 for Russell and 2314.011 for Stoxx, 70% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.3%
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| Cusip: | 22552F3Q3
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