Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $345,000 autocallable yield notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, Aug. 7 – Credit Suisse AG, London Branch priced $345,000 of autocallable yield notes due Oct. 29, 2020 linked to the lesser performing of 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 a rate of 6% per year.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date starting after six months.
The payout at maturity will be par unless any index closes below its 75% knock-in level any day during the life of the notes, in which case investors will be fully exposed to any losses of the least-performing index with a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $345,000
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| Maturity: | Oct. 29, 2020
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| Coupon: | 6% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level any day during the life of the notes, in which case investors will be fully exposed to any losses of the least-performing index with a maximum payout of par
|
| Call: | Automatically if each index closes at or above initial levels on any quarterly trigger observation date starting after six months
|
| Initial levels: | 1,580.417 for Russell and 8,010.605 for Nasdaq
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| Knock-in levels: | 1,185.31275 for Russell and 6,007.95375 for Nasdaq; 75% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
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| Cusip: | 22552FM90
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