Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $520,000 contingent coupon callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 2 – Credit Suisse AG, London Branch priced $520,000 of contingent coupon callable yield notes due May 3, 2024 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 quarter, the notes pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its knock-in level, 55% of its initial level, on the observation date for that period.
Beginning Nov. 4, the notes are callable at par quarterly.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline 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: | Russell 2000 and S&P 500
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Amount: | $520,000
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Maturity: | May 3, 2024
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Coupon: | Each quarter, notes pay contingent coupon at rate of 6.5% 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 full exposure to decline of lesser-performing index
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Call option: | At par quarterly beginning Nov. 4
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Initial levels: | 2,939.88 for S&P 500 and 1,591.816 for Russell 2000
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Knock-in levels: | 1,616.934 for S&P 500 and 875.4988 for Russell 2000, or 55% of initial levels
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Pricing date: | April 26
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Settlement date: | May 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22552FBB7
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