Published on 5/18/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $882,000 autocallable securities on MSCI EAFE, Emerging Markets
By Wendy Van Sickle
Columbus, Ohio, May 18 – Credit Suisse AG, London Branch priced $882,000 of 0% autocallable securities due May 18, 2020 linked to the MSCI EAFE index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 10.7% if each underlying index closes at or above its initial level on any annual review date.
If the notes are not called, the payout at maturity will be par plus the greater of the return of the lesser performing index and 32.1% unless either underlying index closes below its initial level, in which case investors will lose 1% for each 1% decline of the least-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: | MSCI EAFE, MSCI Emerging Markets
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Amount: | $882,000
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Maturity: | May 18, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 32.1% and return of lesser performing index, unless either index finishes below initial level, in which case full exposure to decline of laggard index
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Call: | Automatically at par plus annualized redemption premium of 10.7% if each underlying closes at or above its initial level on any annual review date
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Initial levels: | 1,867.96 for MSCI EAFE, 1,002.37 for MSCI Emerging Markets
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Pricing date: | May 12
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Settlement date: | May 17
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.6%
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Cusip: | 22550B4G5
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