Published on 12/12/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $608,000 contingent coupon callable yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Credit Suisse AG, London Branch priced $608,000 of contingent coupon callable yield notes due Dec. 12, 2023 linked to the least performing of the Euro Stoxx 50 index, the iShares MSCI Emerging Markets exchange-traded fund and the Russell 2000 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent annual coupon at an annualized rate of 10% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
Credit Suisse may call the notes in whole but not in part at par on any observation date.
The payout at maturity will be par unless any asset finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.
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 assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $608,000
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| Maturity: | Dec. 12, 2023
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| Coupon: | 10% per year, payable annually if each underlying asset closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its knock-in, in which case full exposure to any losses of the least-performing asset
|
| Call option: | Callable at par on any observation date
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| Initial levels: | 3,058.53 for Stoxx, $39.88 for ETF, 2,633.08 for S&P
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| Coupon barrier: | 2,140.971 for Stoxx, $27.916 for ETF, 1,139.0955 for S&P; 70% of initial levels
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| Knock-in levels: | 1,529.265 for Stoxx, $19.94 for ETF, 987.2161 for S&P; 50% of initial levels
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 14
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.4%
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| Cusip: | 22551LPA2
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