Published on 12/13/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.25 million contingent coupon autocallables linked to S&P, Russell, Nasdaq
By Angela McDaniels
Tacoma, Wash., Dec. 13 – Credit Suisse AG, London Branch priced $1.25 million of contingent coupon autocallable yield notes due Sept. 3, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.25% per year if each index closes at or above its knock-in level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically 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 unless any index closes below its knock-in level during the life of the notes, in which case the payout will be par plus the return of the least-performing index, subject to a maximum payout of par.
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 and Nasdaq-100
|
| Amount: | $1,246,000
|
| Maturity: | Sept. 3, 2021
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.25% per year unless any index closes below knock-in level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below knock-in level during life of notes, in which case par plus return of least-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 3,153.63 for S&P 500, 1,634.104 for Russell 2000 and 8,444.709 for Nasdaq-100
|
| Knock-in levels: | 2,207.541 for S&P 500, 1,143.8728 for Russell 2000 and 5,911.2963 for Nasdaq-100; 70% of initial levels
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.8%
|
| Cusip: | 22551N5N2
|
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