Published on 10/27/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $6.14 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – Credit Suisse AG, London Branch, priced $6.14 million of contingent coupon callable yield notes due Oct. 28, 2019 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.5% per year unless any index closes below its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index.
The notes are callable in whole but not in part at par on any interest payment date on or after Jan. 30, 2017.
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: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $6,138,000
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| Maturity: | Oct. 28, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.5% per year unless any index closes below barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index
|
| Call option: | In whole, at par on any interest payment date after Jan. 30, 2017
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| Initial index levels: | 2,143.16 for S&P 500, 3,087.41 for Euro Stoxx 50, 1,216.104 for Russell 2000
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| Barrier level: | 1,285.896 for S&P 500, 1,852.446 for Euro Stoxx 50, 729.6624 for Russell 2000, 60% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22548QKM6
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