Published on 8/17/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.25 million of trigger autocallable contingent yield notes on Nasdaq, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Credit Suisse AG, London Branch priced $3.25 million of trigger autocallable contingent yield notes due Aug. 14, 2020 linked to the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.8% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold, 70% of the initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Nasdaq-100 and Euro Stoxx 50
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Amount: | $3,247,510
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Maturity: | Aug. 14, 2020
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Coupon: | 6.8%, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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Payout at maturity: | Par plus final coupon, if any, unless index closes below downside threshold level, in which case 1% loss for each 1% decline of the worse performing index from initial level
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Initial levels: | 4,082.07 for Nasdaq, 3,406.34 for Stoxx
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Coupon barriers/thresholds: | 2,384.44 for Nasdaq, 2,384.44 for Stoxx, 70% of initial levels
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Distributor: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 22549C717
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