Published on 5/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.13 million contingent coupon autocallables on indexes
By Sarah Lizee
Olympia, Wash., May 6 – Credit Suisse AG, London Branch priced $1.13 million of autocallable contingent coupon equity-linked securities due May 6, 2024 linked to the lowest performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.25% if each index closes at or above its barrier level, 75% 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 after one year.
The payout at maturity will be par unless any index finishes below its 65% final barrier level, 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
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,129,000
|
| Maturity: | May 6, 2024
|
| Coupon: | 6.25% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index finishes below final barrier level, in which case full exposure to any losses of the least-performing index
|
| Call: | At par if each index closes above initial level on any quarterly trigger observation date after one year
|
| Initial levels: | 26,430.14 for Dow, 1,576.379 for Russell, 7,751.847 for Nasdaq
|
| Coupon barrier levels: | 19,822.605 for Dow, 1,182.284 for Russell, 5,813.885 for Nasdaq, 75% of initial levels
|
| Final barrier levels: | 17,179.591 for Dow, 1,024.646 for Russell, 5,038.701 for Nasdaq, 65% of initial levels
|
| Pricing date: | May 1
|
| Settlement date: | May 6
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.975%
|
| Cusip: | 17326YJY3
|
© 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.
