Published on 4/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.97 million 9.2% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, April 10 – Credit Suisse AG, London Branch priced $4.97 million of contingent coupon callable yield notes due Oct. 2, 2020 linked to the lesser 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.2% if each index closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index closes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $4,965,000
|
| Maturity: | Oct. 2, 2020
|
| Coupon: | 9.2% annualized, payable quarterly if each index closes at or above 65% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below 65% knock-in level, in which case 1% loss per 1% decline of worst performing index
|
| Call option: | At par on any interest payment date beginning July 5, 2018
|
| Initial levels: | 2,640.87 for S&P, 1,529.427 for Russell and 3,361.50 for Stoxx
|
| Trigger levels: | 1,716.5655 for S&P, 994.12755 for Russell and 2,184.975 for Stoxx; 65% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | April 4
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22550WMB0
|
|
|
|
|
© 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.
