Published on 7/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.31 million contingent coupon callable yield notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 10 – Credit Suisse AG, London Branch priced $3.31 million of contingent coupon callable yield notes due June 29, 2021 linked to the lest performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annualized rate of 8.5%, payable semiannually, if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes may be called in whole, but not in part, at par on any contingent coupon payment date.
The payout at maturity will be par unless any index finishes below its initial level and ever closes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-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 and Russell 2000
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Amount: | $3,308,000
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Maturity: | June 29, 2021
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Coupon: | 8.5% per year, payable semiannually if each index closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its initial level and ever closes below knock-in level, in which case full exposure to any losses of the least-performing index
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Call: | Notes may be called at par on any contingent coupon payment date
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Initial levels: | 3,441.6 for Stoxx and 1,685.557 for Russell
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Coupon barrier/knock-in levels: | 2,409.12 for Stoxx and 1,179.9039 for Russell; 70% of initial levels
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 22550WW37
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