Published on 5/4/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.92 million trigger callable contingent yield notes on indexes
By Tali Rackner
Minneapolis, May 4 – Credit Suisse AG, London Branch priced $4.92 million of trigger callable contingent yield notes with daily coupon observation due April 26, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon of 9.25% per year if each index’s closing level is at or above its coupon barrier, 65% of its initial level, on each day that quarter.
The notes are callable at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $4,921,000
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| Maturity: | April 26, 2021
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| Coupon: | 9.25% per year, payable quarterly if each index closes at or above its coupon barrier on each day that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on each quarterly observation date other than final one
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| Initial levels: | 2,670.14 for S&P, 1,564.124 for Russell, 3,494.20 for Stoxx
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| Barriers/downside thresholds: | 1,735.59 for S&P, 1,016.681 for Russell, 2,271.23 for Stoxx; 65% of initial levels
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| Pricing date: | April 20
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| Settlement date: | April 26
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 22549M350
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