Published on 12/28/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.01 million contingent coupon callable yield notes on indexes
By Tali Rackner
Norfolk, Va., Dec. 28 – Credit Suisse AG, London Branch priced $1.01 million of contingent coupon callable yield notes due Dec. 28, 2026 linked to the lowest performing of the Euro Stoxx 50 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 10% if each index closes at or above its barrier level, 72% of its initial level, on a quarterly observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par unless either index finishes below its 50% knock-in level, in which case investors will be exposed to any losses of the lesser-performing index.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $1.01 million
|
| Maturity: | Dec. 28, 2026
|
| Coupon: | 10% per year, payable quarterly if each index closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case investors will be exposed to any losses of lesser-performing index
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 3,269.51 for Euro Stoxx, 1,362.659 for Russell 2000
|
| Barrier levels: | 2,354.0472 for Euro Stoxx, 981.11448 for Russell 2000; 72% of initial levels
|
| Knock-in levels: | 1,634.755 for Euro Stoxx, 681.3295 for Russell 2000; 50% of initial levels
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 5.25%
|
| Cusip: | 22548QQC2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
