Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million contingent coupon callable yield notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, July 1 – Credit Suisse AG, London Branch priced $1 million of contingent coupon callable yield notes due July 1, 2019 linked to 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 pay a contingent coupon at the rate of 8.5% per year unless any index closes below its knock-in level, 60% of its initial level, 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 finishes below its knock-in level, in which case investors will be fully exposed to the decline 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: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $1 million
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| Maturity: | July 1, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.5% per year unless any index closes below knock-in level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
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| Call option: | At par on any interest payment date
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| Initial index levels: | 2,036.06 for S&P, 2,758.67 for Stoxx and 1,107.298 for Russell
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| Knock-in levels: | 1,221.654 for S&P, 1,655.2020 for Stoxx, and 664.3788 for Russell; 60% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 1
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22548QBE4
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