Published on 5/16/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.6 million autocallable securities on S&P 500, Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, May 16 – Credit Suisse AG, London Branch priced $1.6 million of 0% autocallable securities due May 16, 2022 linked to the lowest performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 10.2% a year if each underlying index closes at or above its initial level on any annual observation date.
If each index finishes at or above its 65% knock-in level, the payout at maturity will be par plus 40.8%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500, Euro Stoxx 50
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Amount: | $1.6 million
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Maturity: | May 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its knock-in level, par plus 40.8%; otherwise, 1% loss for each 1% decline of the lesser-performing index
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Call: | Automatically at par plus a premium of 10.2% a year if each underlying index closes at or above its initial level on any annual observation date
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Initial index levels: | 2,727.72 for S&P, 3,565.52 for Euro Stoxx
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Knock-in levels: | 1,773.018 for S&P, 2,317.588 for Euro Stoxx; 65% of initial levels
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Agent: | Credit Suisse Securities (USA) LLC
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Pricing date: | May 11
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Settlement date: | May 16
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Fees: | 3%
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Cusip: | 22550WTJ6
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