Published on 3/5/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $205,000 contingent coupon autocalls on S&P, Nasdaq
By Marisa Wong
Morgantown, W.Va., March 5 – Credit Suisse AG, London Branch priced $205,000 of contingent coupon autocallable yield notes due Feb. 28, 2024 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 6.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly autocall observation date after one year.
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 the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | S&P 500 and Nasdaq-100
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| Amount: | $205,000
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| Maturity: | Feb. 28, 2024
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| Coupon: | 6.15% per year, payable each quarter that each index closes at or above its coupon barrier on observation date for that quarter
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| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of the lesser-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly autocall observation date after one year
|
| Initial levels: | 2,796.11 for S&P and 7,115.426 for Nasdaq
|
| Coupon barriers: | 1,957.277 for S&P and 4,980.7982 for Nasdaq; 70% of initial levels
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| Knock-in levels: | 1,957.277 for S&P and 4,980.7982 for Nasdaq; 70% of initial levels
|
| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.125%
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| Cusip: | 22551LVH0
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