Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3 million callable fixed-income notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 19 – Credit Suisse AG, London Branch priced $3 million of callable fixed-income securities due Jan. 4, 2021 linked to the least performing of the S&P 500 index, the Nikkei 225 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7.45% per year.
The notes are callable quarterly at par plus the coupon.
If the notes are not called and each index finishes at or above its 75% knock-in level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable fixed-income securities
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Underlying indexes: | S&P 500, Nikkei 225 and Euro Stoxx 50
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Amount: | $3 million
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Maturity: | Jan. 4, 2021
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Coupon: | 7.45% per year, payable quarterly
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Price: | Par
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Payout at maturity: | If each index finishes at or above knock-in level, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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Call option: | Quarterly at par plus the coupon
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Initial levels: | 2,718.37 for S&P, 22,304.51 for Nikkei, 3,395.6 for Euro Stoxx
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Knock-in levels: | 2,038.78 for S&P, 16,728.38 for Nikkei, 2,546.7 for Euro Stoxx; 75% of initial levels
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Trade date: | June 29
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Settlement date: | July 5
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Distributor: | UBS Financial Services Inc.
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Fees: | 2.25%
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Cusip: | 22550WZR1
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