Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $488,000 6% autocallable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 4 – Credit Suisse AG, London Branch priced $488,000 of 6% autocallable yield notes due Dec. 30, 2020 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 automatically called at par if each index closes at or above its initial level on March 25, 2020, June 25, 2020 or Sept. 25, 2020.
The payout at maturity will be par unless either index closes below its knock-in level, 75% of its initial level, on any day during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $488,000
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Maturity: | Dec. 30, 2020
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Coupon: | 6%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index closes below knock-in level on any day during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
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Call: | Automatically at par if each index closes at or above initial level on March 25, 2020, June 25, 2020 or Sept. 25, 2020
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Initial levels: | 2,984.87 for S&P 500 and 1,550.654 for Russell 2000
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Knock-in levels: | 2,238.6525 for S&P 500 and 1,162.9905 for Russell 2000, or 75% of initial levels
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22552FUN0
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