Published on 12/5/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $107,000 contingent coupon callable yield notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – Credit Suisse AG, London Branch, priced $107,000 of contingent coupon callable yield notes due Aug. 29, 2022 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 6.15% 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 are callable, in whole but not in part, at par plus any coupon on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
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 indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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| Amount: | $170,000
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| Maturity: | Aug. 29, 2022
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| Coupon: | 6.15% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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| Call option: | Callable in whole at par plus any coupon on any quarterly observation date after six months
|
| Initial levels: | 28,066.47 for Dow, 1,621.904 for Russell, 3,133.64 for S&P
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| Coupon barrier levels: | 19,646.529 for Dow, 1,135.3328 for Russell, 2,193.548 for S&P, 70% of initial levels
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| Knock-in levels: | 19,646.529 for Dow, 1,135.3328 for Russell, 2,193.548 for S&P, 70% of initial levels
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.525%
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| Cusip: | 22551N7C4
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