Published on 12/9/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.48 million 6.5% autocallables linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 9 – Credit Suisse AG, London Branch priced $1.48 million of 6.5% autocallable yield notes due Sept. 3, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The 6.5% per year coupon is equivalent to 4.875% for the term of the notes.
The notes will be automatically called at par if each index closes at or above its initial level on May 29, 2020.
The payout at maturity will be par unless either index closes below its knock-in level, 75% of its initial level, on any day during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,476,000
|
| Maturity: | Sept. 3, 2020
|
| Coupon: | 6.5% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below knock-in level on any day during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial level on May 29, 2020
|
| Initial levels: | 3,153.63 for S&P 500 and 1,634.104 for Russell 2000
|
| Knock-in levels: | 2,365.2225 for S&P 500 and 1,225.578 for Russell 2000, or 75% of initial levels
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.7%
|
| Cusip: | 22551N5K8
|
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