Published on 7/26/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.53 million contingent coupon callable yield notes linked to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 26 – Credit Suisse AG, London Branch priced $1.53 million of contingent coupon callable yield notes due July 29, 2019 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.5% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that quarter.
Beginning Jan. 30, 2017, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-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 and Russell 2000
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| Amount: | $1,528,000
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| Maturity: | July 29, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10.5% per year unless either index closes below knock-in level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date from Jan. 30, 2017 onward
|
| Initial index levels: | 2,972.230 for Stoxx 50 and 1,212.889 for Russell 2000
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| Knock-in levels: | 2,080.561 for Stoxx 50 and 849.0223 for Russell 2000; 70% of initial levels
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| Pricing date: | July 22
|
| Settlement date: | July 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.3%
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| Cusip: | 22548QC45
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