Published on 9/29/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $525,000 step-up contingent coupon callable yield notes on Nasdaq, Russell
Chicago, Sept. 30 – Credit Suisse AG, London Branch, priced $525,000 of step-up contingent coupon callable yield notes due Aug. 30, 2022 tied to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon unless either index closes below its barrier level, 74% of its initial level, on the observation date for that quarter. The contingent coupon is 5% per annum initially, stepping up to 7% on Nov. 30, 2020 and to 10% on Nov. 30, 2021.
The payout at maturity will be par plus the final coupon unless either index finishes below its 74% knock-in level, in which case investors will lose 1% for each 1% decline of the lesser performing index.
The notes are callable in whole but not in part at par on any quarterly early redemption date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Step-up contingent coupon callable yield notes
|
Underlying index: | Russell 2000 and Nasdaq-100
|
Amount: | $525,000
|
Maturity: | Aug. 30, 2022
|
Coupon: | Each quarter, notes pay contingent coupon unless either index closes below barrier level on observation date for that quarter; coupon is 5% per annum initially, stepping up to 7% on Nov. 30, 2020 and to 10% on Nov. 30, 2021
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below knock-in level, in which case 1% loss for each 1% decline of lesser-performing index
|
Call option: | In whole, at par on any quarterly early redemption date
|
Initial levels: | 1456.039 for Russell, 7566.027 for Nasdaq
|
Barrier levels: | 1077.46886 for Russell, 5598.85998 for Nasdaq, 74% of initial level
|
Knock-in levels: | 1077.46886 for Russell, 5598.85998 for Nasdaq, 74% of initial level
|
Pricing date: | Aug. 27
|
Settlement date: | Aug. 30
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 3.5%
|
Cusip: | 22552FQV7
|
|
© 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.