Published on 10/11/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $489,000 contingent coupon autocallables tied to indexes
By Susanna Moon
Chicago, Oct. 11 – Credit Suisse AG, London Branch priced $489,000 of contingent coupon autocallable yield notes due March 29, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 5.5% if each index closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes above its initial level on any quarterly call date after six months.
The payout at maturity will be par unless either index ever closes below its 75% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $489,000
|
| Maturity: | March 29, 2019
|
| Coupon: | 5.5% per year, payable monthly if each index closes at or above its 75% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below its knock-in level, in which case full exposure to any losses of worse performing index
|
| Call: | At par if each index closes above initial level on any quarterly call date beginning March 26, 2018
|
| Initial levels: | 1,456.86 for Russell, 2,496.84 for S&P
|
| Trigger levels: | 1,092.64725 for Russell, 1,872.63 for S&P, 75% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.65%
|
| Cusip: | 22550BGT4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
