Published on 11/30/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $160,000 callable contingent coupon buffered notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Credit Suisse AG, London Branch priced $160,000 of callable contingent coupon buffered securities due Nov. 30, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon of 5% if the index closes at or above its 80% coupon barrier on the observation date for that quarter.
The payout at maturity will be par unless the index finishes below its 80% buffer level, in which case investors will lose 1% for each 1% loss beyond 20%.
The notes are callable at par on any interest payment date after one year.
Incapital LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable contingent coupon buffered securities
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Underlying index: | Euro Stoxx 50
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Amount: | $160,000
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Maturity: | Nov. 30, 2022
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Coupon: | 5% annualized, payable quarterly if index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless index finishes below its buffer, in which case 1% loss for each 1% decline of index beyond buffer
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Call option: | At par on any interest payment date beginning Nov. 30, 2018
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Initial level: | 3,564.02
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Coupon barrier: | 2,851.216; 80% of initial level
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Buffer level: | 2,851.216; 80% of initial level
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agent: | Incapital LLC
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Fees: | 3.75%
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Cusip: | 22550BNS8
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