Published on 2/13/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.71 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – Credit Suisse AG, London Branch priced $3.71 million of contingent coupon callable yield notes due Aug. 12, 2020 linked to the lowest performing of the MSCI Emerging Markets index, 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 quarterly coupon at an annualized rate of 9.66% if each index closes at or above its barrier level, 65% of its initial level, on a quarterly observation date.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be exposed to any losses of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Russell 2000, MSCI Emerging Markets, Euro Stoxx 50
|
| Amount: | $3,714,000
|
| Maturity: | Aug. 12, 2020
|
| Coupon: | 9.66% per year, payable quarterly if each index closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case investors will be exposed to any losses of least performing index
|
| Call option: | At par on any coupon payment date
|
| Initial levels: | 1,507.969 for Russell, 3,454.52 for Stoxx, 1,173.38 for Emerging Markets
|
| Barrier/knock-in levels: | 980.17985 for Russell, 2,245.438 for Stoxx, 762.697 for Emerging Markets; 65% of initial levels
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 12
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22550WD87
|
|
|
© 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.
