Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $224,000 autocallable securities on Russell, Stoxx
By Kiku Steinfeld
Chicago, Aug. 20 – Credit Suisse AG, London Branch priced $224,000 of 0% autocallable securities due July 26, 2023 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 12.75% if each underlying index closes at or above its call level on any annual review date. The call level will be equal to the initial level.
If the notes are not called and each index closes at or above its initial levels, the payout at maturity will be par plus the contingent return of 51%.
If either index falls by up to 35%, the payout will be par plus 10%.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $224,000
|
| Maturity: | July 26, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 51% if each index finishes at or above its initial level; if either index falls by up to 35%, par plus 10%; otherwise, investors will lose 1% for each 1% decline of least-performing index from initial level
|
| Call: | Automatically at par plus annualized redemption premium of 12.75% if each underlying closes at or above call level on any annual review date; call level is 100% of initial level
|
| Initial levels: | 1,547.896 for Russell, 3,480.18 for Stoxx
|
| Threshold levels: | 1,006.1324 for Russell, 2,262.117 for Stoxx; 65% of initial levels
|
| Pricing date: | July 19
|
| Settlement date: | July 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552FLM2
|
|
|
© 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.
