Published on 8/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.2 million autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Credit Suisse AG, London Branch priced $5.2 million of 6.05% autocallable yield notes due Nov. 5, 2020 linked to the least performing of the Dow Jones industrial average, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes above its initial level on any monthly trigger observation date after three months.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | Dow Jones industrial average, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $5,204,000
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| Maturity: | Nov. 5, 2020
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| Coupon: | 6.05% per year, payable monthly
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| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index ever closes below its knock-in during life of notes, 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 monthly trigger observation date after three months
|
| Initial levels: | 26,864.27 for Dow, 3,466.85 for Stoxx and 1,574.605 for Russell
|
| Knock-in levels: | 18,804.989 for Dow, 2,426.795 for Stoxx and 1,102.2235 for Russell; 70% of initial levels
|
| Trade date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.025%
|
| Cusip: | 22552FPY2
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