Published on 2/24/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.1 million contingent coupon callable yield notes on indexes
By Tali Rackner
Norfolk, Va., Feb. 24 – Credit Suisse AG, London Branch priced $1.1 million of contingent coupon callable yield notes due May 24, 2018 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.
The notes will pay a quarterly coupon at an annualized rate of 9.75% if each index closes above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable in whole but not in part at par on any coupon payment date beginning Nov. 24, 2017 and before maturity.
The payout at maturity will be par unless any index closes below its knock-in level, 70% of its initial level, during the life of the notes, in which case investors will gain or lose 1% for each 1% increase or decline of the least-performing index from its initial level.
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, Euro Stoxx 50
|
| Amount: | $1,099,000
|
| Maturity: | May 24, 2018
|
| Coupon: | 9.75% per year, payable quarterly if each as index closes at or above its barrier level on every day during the quarter
|
| 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 coupon date beginning Nov. 24, 2017
|
| Initial levels: | 2,365.38 for S&P, 1,410.344 for Russell, 3,339.33 for Stoxx
|
| Barrier/knock-in levels: | 1,655.766 for S&P, 987.2408 for Russell, 2,337.531 for Stoxx; 70% of initial levels
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 24
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.45%
|
| Cusip: | 22548QVS1
|
|
|
|
|
© 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.
