Published on 8/27/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.61 million contingent coupon callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – Credit Suisse AG, London Branch priced $2.61 million of contingent coupon callable yield notes due Aug. 30, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes pay a contingent coupon at the rate of 7.55% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes may be called, in whole but not in part, at par plus any coupon due on any semiannual observation date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
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: | Russell 2000 and S&P 500
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| Amount: | $2,607,000
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| Maturity: | Aug. 30, 2022
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| Coupon: | 7.55% per year, payable semiannually if each underlying asset closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case exposure to decline of lesser-performing index
|
| Call option: | Callable at par plus any coupon due on any semiannual call observation date
|
| Initial levels: | 2,847.11 for S&P, 1,459.485 for Russell
|
| Coupon barrier levels: | 1,992.977 for S&P, 1,021.6395 for Russell, 70% of initial levels
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| Knock-in levels: | 1,992.977 for S&P, 1,021.6395 for Russell, 70% of initial levels
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22552FQ39
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