Published on 3/15/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.84 million autocallable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 15 – Credit Suisse AG, London Branch priced $2.84 million of 8.6% autocallable yield notes due June 17, 2019 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 quarterly.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 75% knock-in level during the life of the notes, 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
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,837,000
|
| Maturity: | June 17, 2019
|
| Coupon: | 8.6% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its initial level and either closes below its knock-in level during life of notes, in which case full exposure to any losses of the lesser-performing index
|
| Call: | At par if each index closes above initial level on any quarterly trigger observation date after six months
|
| Initial index levels: | 2,765.31 for S&P and 1,592.052 for Russell
|
| Knock-in levels: | 2,073.9825 for S&P and 1,194.039 for Russell; 75% of initial levels
|
| Pricing date: | March 13
|
| Settlement date: | March 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22550WGT8
|
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