Published on 12/6/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.58 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Credit Suisse AG, London Branch priced $1.58 million of contingent coupon callable yield notes due Dec. 3, 2018 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 14.25% per year unless any index closes below its knock-in level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the least 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: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $1,575,000
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Maturity: | Dec. 3, 2018
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Coupon: | 14.25% per year, payable quarterly, unless any index closes below knock-in level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least performing index
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Call option: | At par on any interest payment date
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Initial levels: | 2,204.66 for S&P 500, 1,328.291 for Russell 2000, 3,051.61 for Euro Stoxx 50
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Knock-in levels: | 1,653.50 for S&P 500, 996.164 for Russell 2000, 2,288.71 for Euro Stoxx 50; 75% of initial levels
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Pricing date: | Nov. 29
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Settlement date: | Dec. 2
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22548QPM1
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