Published on 5/22/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.78 million trigger callable contingent yield notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., May 22 – Credit Suisse AG, London Branch priced $4.78 million of trigger callable contingent yield notes with daily coupon observation due May 26, 2020 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index’s closing level remains at or above its coupon barrier, 70% of its initial level, on each day during that quarter. The contingent coupon rate is 9.4% per year.
The notes are redeemable at par of $10 on quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $4,775,000
|
| Maturity: | May 26, 2020
|
| Coupon: | 9.4% per year, payable quarterly if each index closes at or above its coupon barrier on each day during that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date other than final one
|
| Initial levels: | 3,584.83 for Euro Stoxx 50, 1,355.889 for Russell 2000 and 2,357.03 for S&P 500
|
| Coupon barriers: | 2,509.381 for Euro Stoxx 50, 949.1223 for Russell 2000 and 1,649.921 for S&P 500; 70% of initial levels
|
| Downside thresholds: | 2,150.90 for Euro Stoxx 50, 813.533 for Russell 2000 and 1,414.22 for S&P 500; 60% of initial levels
|
| Strike date: | May 17
|
| Trade date: | May 18
|
| Settlement date: | May 25
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 22549C188
|
© 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.
