Published on 6/8/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $580,000 contingent coupon autocalls on S&P 500, Brazil ETF
New York, June 8 – Credit Suisse AG, London Branch priced $580,000 of contingent coupon autocallable yield notes due June 10, 2019 linked to the lesser performing of the S&P 500 index and the iShares MSCI Brazil exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8.4% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be called at par if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either underlier finishes below its 60% knock-in level, in which case investors will be fully exposed to the loss of the lesser-performing underlier.
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 assets: | S&P 500 and iShares MSCI Brazil exchange-traded fund
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| Amount: | $580,000
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| Maturity: | June 10, 2019
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| Coupon: | 8.4% per year, payable quarterly if each underlier closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below its knock-in level, in which case full exposure to the loss of the lesser performing underlier
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| Call: | Automatically at par if each underlier closes at or above initial level on any quarterly call observation date
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| Initial levels: | 2,748.80 for S&P and $34.97 for Brazil ETF
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| Coupon barrier levels: | 1,924.16 for S&P and $24.479 for Brazil ETF; 70% of initial levels
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| Knock-in levels: | 1,649.28 for S&P and $20.982 for Brazil ETF; 60% of initial levels
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| Pricing date: | June 5
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| Settlement date: | June 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.25%
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| Cusip: | 22550WX93
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