Published on 8/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.44 million contingent coupon autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Aug. 6 – Credit Suisse AG, London Branch priced $2.44 million of contingent coupon autocallable yield notes due Jan. 19, 2021 linked to the lesser performing of the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.35% if each index closes at or above its barrier level, 70% 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 six months.
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, in which case investors will be fully exposed to any losses of the lesser-performing index with a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $2,435,000
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| Maturity: | Jan. 19, 2021
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| Coupon: | 6.35% 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 either index finishes below initial level and either ever closes below knock-in level, in which case full exposure to any losses of the lesser-performing index with maximum payout of par
|
| Call: | At par if each index closes above initial level on any quarterly trigger observation date after six months
|
| Initial levels: | 7,927.077 for Nasdaq and 1,561.995 for Russell
|
| Coupon barrier levels: | 5,548.9539 for Nasdaq and 1,093.3965 for Russell; 70% of initial levels
|
| Knock-in levels: | 5,548.9539 for Nasdaq and 1,093.3965 for Russell; 70% of initial levels
|
| Pricing date: | July 16
|
| Settlement date: | July 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.4%
|
| Cusip: | 22552FM82
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