Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $291,000 autocallable securities on three indexes
By Sarah Lizee
Olympia, Wash., April 1 – Credit Suisse AG, London Branch priced $291,000 of 0% autocallable securities due March 29, 2022 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 8.25% if each underlying index closes at or above its initial level on any semiannual review date.
If the notes are not called and each index finishes at or above 60% knock-in level, the payout at maturity will be par plus the contingent return of 24.75%. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
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Amount: | $291,000
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Maturity: | March 29, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 24.75% if each index finishes at or above knock-in level; otherwise, investors will be fully exposed to any decline of the least performing index
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Call: | Automatically at par plus annualized redemption premium of 8.25% if each index closes at or above its initial level on any semiannual review date
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Initial levels: | 2,818.46 for S&P, 1,528.166 for Russell, 7,351.15 for Nasdaq
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Knock-in levels: | 1,691.076 for S&P, 916.8996 for Russell, 4,410.69 for Nasdaq; 60% of initial levels
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Pricing date: | March 26
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Settlement date: | March 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.8%
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Cusip: | 22551LY79
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