Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.77 million autocallable buffered return equity notes on index, ETF
By Sarah Lizee
Olympia, Wash., Jan. 10 – Credit Suisse AG, London Branch priced $6.77 million of 0% autocallable buffered return equity securities due Jan. 13, 2022 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 10.2% annualized premium if both underlying assets close at or above their initial levels either of two semiannual observation dates.
If the notes are not called, investors will receive par plus 20.4% if each underlying finishes at or above its initial level. Investors will receive par if the lesser performing asset falls by up to 20% and will lose 1.25% for each 1% decline of the worse performing asset beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
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| Underlying assets: | Russell 2000, iShares MSCI EAFE ETF
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| Amount: | $6,768,000
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| Maturity: | Jan. 13, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 20.4% if each underlying finishes at or above its initial level; par if the lesser performing asset falls by up to 20%; 1.25% loss for each 1% decline of the worse performing asset beyond 20%
|
| Call: | Automatically at par plus 10.2% annualized premium if each underlying closes at or above its initial level on semiannual date
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| Initial levels: | 1,658.305 for index, $69.35 for ETF
|
| Pricing date: | Jan. 8
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| Settlement date: | Jan. 13
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| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.2%
|
| Cusip: | 22551NHX7
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