Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $180,000 more 6.6% contingent coupon callables on Russell, Stoxx
By Susanna Moon
Chicago, July 19 – Credit Suisse AG, London branch priced another $180,000 of contingent coupon callable yield notes due June 29, 2021 linked to the worse performing of the Russell 2000 index and the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $3,488,000, up from $3,308,000 at pricing on June 22.
As previously announced, the notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning Dec. 19, 2018.
The payout at maturity will be par unless any underlying index closes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $180,000 add-on
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| Maturity: | June 29, 2021
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| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on each trading day for that quarter
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| Price: | Par
|
| Payout at maturity: | If each index closes above knock-in level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any interest payment date beginning Dec. 19, 2018
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| Initial levels: | 1,685.577 for Russell, 3,441.6 for Stoxx
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| Trigger levels: | 1,179.9039 for Russell, 2,409.12 for Stoxx, 70% of initial levels
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| Pricing date: | June 22 for $3,308,000
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| Add-on date: | July 13
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| Add-on settlement: | July 17
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| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 0.25%
|
| Cusip: | 22550WW37
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| Total deal size: | $3,488,000
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