Published on 4/8/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.29 million contingent coupon autocallables on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 8 – Credit Suisse AG, London Branch priced $2.29 million of contingent coupon autocallable yield notes due July 3, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.75% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are called at par if each asset closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worst performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying assets: | Russell 2000 index and S&P 500 index
|
| Amount: | $2,292,000
|
| Maturity: | July 3, 2020
|
| Coupon: | 8.75% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and any index ever closes below knock-in level, in which case 1% loss for each 1% decline of worse performing asset
|
| Call: | At par if each asset closes at or above its initial level on any determination date
|
| Initial levels: | 2,834.4 for S&P and 1,539.739 for Russell
|
| Coupon barriers: | 1,984.08 for S&P, 1,077.8173 for Russell, 70% of initial levels
|
| Knock-in levels: | 1,984.08 for S&P, 1,077.8173 for Russell, 70% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.625%
|
| Cusip: | 22551LZB9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
