Published on 1/13/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $537,000 contingent coupon callable yield notes on indexes
By Tali Rackner
Norfolk, Va., Jan. 13 – Credit Suisse AG, London Branch priced $537,000 of contingent coupon callable yield notes due July 12, 2018 linked to the lowest 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 will pay a contingent coupon at an annual rate of 6.55% unless any index closes below its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
Beginning July 12, 2017, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless any index closes below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the least-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $537,000
|
| Maturity: | July 12, 2018
|
| Coupon: | 6.55% per year, payable quarterly if each as index set closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its knock-in level during the life of the notes, in which case par plus the return of the least-performing index with maximum payout of par
|
| Call option: | At par on any contingent coupon payment date on or after July 12, 2017
|
| Initial levels: | 2,268.90 for S&P, 1,357.491 for Russell, 3,308.97 for Euro Stoxx
|
| Barrier/knock-in levels: | 1,361.34 for S&P, 814.4946 for Russell, 1,985.382 for Euro Stoxx; 60% of initial levels
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.825%
|
| Cusip: | 22548QSE6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
