Published on 9/28/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.75 million contingent coupon callable yield notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Credit Suisse AG, London Branch priced $4.75 million of contingent coupon callable yield notes due March 30, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7.35% per year unless either index closes below its knock-in level, 75% of its initial level, on the observation date for that quarter.
Beginning March 30, 2017, the notes will be callable at par on any interest payment date.
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
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $4,746,000
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| Maturity: | March 30, 2018
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.35% per year unless either index closes below knock-in level on observation date for that quarter
|
| 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
|
| Call option: | At par on any interest payment date from March 30, 2017 onward
|
| Initial index levels: | 2,164.69 for S&P 500 and 1,254.623 for Russell 2000
|
| Knock-in levels: | 1,623.5175 for S&P 500 and 940.96725 for Russell 2000; 75% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 30
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.85%
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| Cusip: | 22548QGX7
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