Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.78 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $1.78 million of contingent coupon callable yield notes due April 29, 2021 linked to the lesser performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9% if each index closes at or above its barrier level, 65% of its initial level, on a related observation date.
The notes will be callable at par on any observation date.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the least-performing index.
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: | Euro Stoxx 50, S&P 500 and Russell 2000
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Amount: | $1,775,000
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Maturity: | April 29, 2021
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Coupon: | 9% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its knock-in, in which case full exposure to any losses of the least-performing index
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Call option: | Callable at par on any observation date
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Initial levels: | 3,485.83 for Euro Stoxx 50, 2,639.40 for S&P and 1,550.467 for Russell
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Coupon barrier levels: | 2,265.7895 for Euro Stoxx 50, 1,847.58 for S&P and 1,085.3269 for Russell; 65% of initial levels
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Knock-in levels: | 2,265.7895 for Euro Stoxx 50, 1,847.58 for S&P and 1,085.3269 for Russell; 65% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22550WNX1
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