Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.67 million autocallable yield notes on S&P 500, Russell 2000
By Marisa Wong
Morgantown, W.Va., April 2 – Credit Suisse AG, London Branch priced $1.67 million of 6.9% autocallable yield notes due June 22, 2020 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest rate will payable monthly.
The notes will be called at par if each index closes at or above its trigger level, 105% of the initial level, on any quarterly trigger observation date after six months.
The payout at maturity will be par unless either index closes below its knock-in level, 65% of its initial level, on any day during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with the payout capped at par and with full exposure to losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,668,000
|
| Maturity: | June 22, 2020
|
| Coupon: | 6.9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below knock-in level during life of notes, in which case par plus return of worse performing index with payout capped at par and with full exposure to losses
|
| Call: | At par if each index closes at or above the trigger level on any quarterly review date after six months
|
| Initial levels: | 2,822.48 for S&P, 1,553.538 for Russell
|
| Trigger levels: | 2,963.604 for S&P, 1,631.2149 for Russell; 105% of initial levels
|
| Knock-in levels: | 1,975.736 for S&P, 1,087.4766 for Russell; 70% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22552F2F8
|
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