Published on 4/6/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $100,000 contingent coupon autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 6 – Credit Suisse AG, London Branch priced $100,000 of contingent coupon autocallable yield notes due March 31, 2020 linked to the lowest performing of the S&P 500 index and the 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% if each index closes at or above its barrier level, 70% of its initial level, on a quarterly observation date.
The notes will be called automatically if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $100,000
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Maturity: | March 31, 2020
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Coupon: | 6% per year, payable quarterly if each as index set closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
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Call: | Automatically if each index closes at or above its initial level on any quarterly call observation date after six months
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Initial levels: | 1,367.261 for Russell, 2,358.57 for S&P 500
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Barrier/knock-in levels: | 1,025.44575 for Russell, 1,768.9275 for S&P; 75% of initial levels
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.45%
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Cusip: | 22548QVZ5
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