Published on 2/10/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.77 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Credit Suisse AG, London Branch priced $1.77 million of contingent coupon callable yield notes due Feb. 14, 2022 linked to the lowest 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.
The notes will pay a quarterly coupon at an annualized rate of 8.35% if each index closes at or above its barrier level, 65% of its initial level, on a quarterly observation date.
The notes may be called at par on any quarterly contingent coupon date.
The payout at maturity will be par unless any index finishes below its 50% knock-in level, in which case investors will be fully exposed to the loss of the least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1.77 million
|
| Maturity: | Feb. 14, 2022
|
| Coupon: | 8.35% per year, payable quarterly if each as index closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case full exposure to loss of least-performing index
|
| Call option: | At par on any quarterly contingent coupon date
|
| Initial levels: | 1,361.061 for Russell, 2,293.08 for S&P, 3,235.71 for Stoxx
|
| Barrier levels: | 884.690 for Russell, 1,490.502 for S&P, 2,103.212 for Stoxx; 65% of initial levels
|
| Knock-in levels: | 680.530 for Russell, 1,146.54 for S&P, 1,617.855 for Stoxx; 50% of initial levels
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 15
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.375%
|
| Cusip: | 22548QUQ6
|
|
|
© 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.
