Published on 7/25/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.46 million contingent coupon autocallable yield notes on Dow, Nasdaq, Stoxx Select
By Wendy Van Sickle
Columbus, Ohio, July 25 – Credit Suisse AG, London Branch priced $1.46 million of contingent coupon autocallable yield notes due July 18, 2023 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Euro Stoxx Select Dividend 30 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 8.25% if each index closes at or above its barrier level, 71% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below its 70% knock-in, in which case investors will be fully exposed to any losses 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 autocallable yield notes
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Underlying indexes: | Dow Jones industrial average, the Nasdaq-100 index and the Euro Stoxx Select Dividend 30 index
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Amount: | $1,458,000
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Maturity: | July 18, 2023
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Coupon: | 8.25% per year, payable monthly if each index closes at or above its coupon 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 knock-in level, in which case full exposure to any losses of the least-performing index
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Call: | At par if each index closes above initial level on any quarterly call observation date after one year
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Initial levels: | 25,019.41 for Dow, 7,375.816 for Nasdaq and 2,002.16 for Stoxx
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Barrier levels: | 17,763.7811 for Dow, 5,236.82936 for Nasdaq and 1,421.5336 for Stoxx; 71% of initial levels
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Knock-in levels: | 17,513.587 for Dow, 5,163.0712 for Nasdaq and 1,401.512 for Stoxx; 70% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.025%
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Cusip: | 22550BTZ6
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