Published on 8/8/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million contingent coupon callable yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Credit Suisse AG, London Branch priced $1 million of contingent coupon callable yield notes due July 31, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 10.6% per year unless any index closes below its 75% coupon barrier on any day that quarter.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes will be callable at par on any contingent coupon payment date prior to maturity.
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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $1 million
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Maturity: | July 31, 2019
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Coupon: | 10.6% per year, payable quarterly unless any index closes below coupon barrier on any day 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 1% loss for each 1% decline of worst performing index
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Call option: | At par on any contingent coupon payment date other than the maturity date
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Initial levels: | 2,447.83 for S&P, 1,442.279 for Russell, 3,491.19 for Euro Stoxx
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Coupon barriers: | 1,858.37 for S&P, 1,081.709 for Russell, 2,618.39 for Euro Stoxx; 75% of initial levels
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Knock-in levels: | 1,858.37 for S&P, 1,081.709 for Russell, 2,618.39 for Euro Stoxx; 75% of initial levels Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.9%
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Cusip: | 22550BEG4
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