Published on 5/3/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $709,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 3 – Credit Suisse AG, London Branch priced $709,000 of contingent coupon callable yield notes due May 3, 2023 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.
The notes will pay a quarterly coupon at an annualized rate of 8.5% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be callable at par on any observation date after one year.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses 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
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $709,000
|
| Maturity: | May 3, 2023
|
| Coupon: | 8.5% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
|
| Call option: | Callable at par on any observation date after one year
|
| Initial levels: | 2,648.05 for S&P and 1,541.884 for Russell
|
| Coupon barrier levels: | 1,853.635 for S&P and 1,079.3188 for Russell; 70% of initial levels
|
| Knock-in levels: | 1,853.635 for S&P and 1,079.3188 for Russell; 70% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.125%
|
| Cusip: | 22550WLX3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
