Published on 1/3/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.71 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – Credit Suisse AG, London Branch priced $1.71 million of contingent coupon callable yield notes due June 25, 2021 linked to the lesser performing of the Euro Stoxx 50, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 9% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to the 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: | Contingent coupon callable yield notes
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Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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Amount: | $1,706,000
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Maturity: | June 25, 2021
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Coupon: | Each quarter, notes pay contingent coupon at rate 9% per year if each index closes at or above coupon barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
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Call option: | At par on any interest payment date
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Initial index levels: | 3,553.39 for Stoxx, 2,683.34 for S&P and 1,542.925 for Russell
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Knock-in/barrier levels: | 2,487.373 for Stoxx, 1,878.338 for S&P and 1,080.0475 for Russell; 70% of initial levels
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22550BS53
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