Published on 6/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse $5.24 million contingent coupon autocallable yield notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., June 6 – Credit Suisse AG, London Branch priced $5.24 million of contingent coupon autocallable yield notes due Dec. 7, 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 6.4% if each index closes at or above its barrier level, 65% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date starting Dec. 2.
The payout at maturity will be par unless either index closes below its 65% knock-in level during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with a maximum payout of par.
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: | $5,236,000
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Maturity: | Dec. 7, 2020
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Coupon: | 6.4% per year, payable quarterly if each index 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 index closes below its 65% knock-in level during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with a maximum payout of par
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Call: | At par if each index closes above initial level on any quarterly trigger observation date starting Dec. 2
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Initial levels: | 2,752.06 for S&P, 1,465.487 for Russell
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Coupon barrier levels: | 1,788.839 for S&P, 952.56655 for Russell, 65% of initial levels
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Knock-in levels: | 1,788.839 for S&P, 952.56655 for Russell, 65% of initial levels
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.15%
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Cusip: | 22552FD82
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