Published on 6/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $923,000 contingent coupon callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 28 – Credit Suisse AG, London Branch priced $923,000 of contingent coupon callable yield notes due Dec. 28, 2020 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 six months, the notes pay a contingent coupon at the rate of 6.85% per year unless either index closes below its knock-in level, 75% of its initial level, on the observation date for that period.
The notes will be callable at par on any coupon 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: | $923,000
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| Maturity: | Dec. 28, 2020
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| Coupon: | Each six months, notes pay contingent coupon at rate of 6.85% per year unless either index closes below knock-in levels on observation date for that period
|
| Price: | Par
|
| 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 coupon payment date
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| Initial levels: | 2,483.30 for S&P 500 and 1,414.778 for Russell 2000
|
| Knock-in levels: | 1,828.725 for S&P 500 and 1,061.0835 for Russell 2000; 75% of initial levels
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| Pricing date: | June 23
|
| Settlement date: | June 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.95%
|
| Cusip: | 22550BAL7
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