Published on 6/24/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $600,000 contingent coupon autocallable yield notes on index, ETF
By Sarah Lizee
Olympia, Wash., June 24 – Credit Suisse AG, London Branch priced $600,000 of contingent coupon autocallable yield notes due June 15, 2020 linked to the least performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.25% if each asset closes at or above its coupon barrier, 80% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each asset closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either asset finishes below its 80% knock-in level, in which case investors will be fully exposed to any losses of the least performing asset.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $600,000
|
| Maturity: | June 15, 2020
|
| Coupon: | 9.25% per year, payable quarterly if each asset closes at or above its coupon barrier on the quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below knock-in level, in which case full exposure to the losses of the least performing asset
|
| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly trigger observation date
|
| Initial prices: | 1,514.391 for index, $41.18 for ETF
|
| Coupon barriers: | 1,211.5128 for index, $32.944 for ETF; 80% of initial levels
|
| Knock-ins: | 1,211.5128 for index, $32.944 for ETF; 80% of initial levels
|
| Pricing date: | June 10
|
| Settlement date: | June 13
|
| Agent: | Incapital LLC
|
| Fees: | 1%
|
| Cusip: | 22552FJX1
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