Published on 12/8/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.1 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Credit Suisse AG, London Branch priced $4.1 million of trigger callable contingent yield notes with daily coupon observation due Dec. 7, 2017 linked to the least 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 12.1% if each index closes at or above its barrier, 75% of its initial level, on each day during that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless any index finishes below its barrier, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger callable contingent yield notes with daily coupon observation
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $4.1 million
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Maturity: | Dec. 7, 2017
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Coupon: | 12.1%, payable quarterly if each index closes at or above barrier on each day during quarter
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below barrier, in which case full exposure to loss of worst performing index
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Call option: | At par quarterly
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Initial levels: | 2,198.81 for S&P, 1,322.339 for Russell, 3,051.61 for Stoxx
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Barrier levels: | 1,649.11 for S&P, 991.754 for Russell, 2,288.71 for Stoxx; 75% of initial levels
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Pricing date: | Dec. 1
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Settlement date: | Dec. 8
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Distributor: | UBS Financial Services Inc.
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Fees: | 1.25%
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Cusip: | 22548T802
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