Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.88 million contingent coupon callable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Dec. 30 – Credit Suisse AG, London Branch priced $4.88 million of contingent coupon callable yield notes due Dec. 30, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes pay a contingent coupon at the rate of 6.25% per year if each index closes at or above its knock-in level, 70% of its initial level, on the observation date for that period.
The notes are callable at par semiannually.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
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: | Russell 2000 and S&P 500
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Amount: | $4,879,000
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Maturity: | Dec. 30, 2022
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Coupon: | Each six months, notes pay contingent coupon at rate of 6.25% per year if each index closes at or above knock-in level on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below knock-in level, in which case exposure to decline of lesser-performing index
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Call option: | At par semiannually
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Initial levels: | 3,221.22 for S&P 500 and 1,671.902 for Russell 2000
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Knock-in levels: | 2,254.854 for S&P 500 and 1,170.3314 for Russell 2000, or 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22551NC95
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