Published on 5/23/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $7.67 million contingent coupon callable yield notes on Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., May 23 – Credit Suisse AG, London Branch priced $7.67 million of contingent coupon callable yield notes due May 26, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that quarter.
Beginning Nov. 27, 2017, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $7,669,000
|
| Maturity: | May 26, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8% per year unless either index closes below knock-in levels on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date from Nov. 27, 2017 onward
|
| Initial index levels: | 3,587.01 for Euro Stoxx 50 and 1,367.330 for Russell 2000
|
| Knock-in levels: | 2,510.907 for Euro Stoxx 50 and 957.131 for Russell 2000; 70% of initial levels
|
| Pricing date: | May 19
|
| Settlement date: | May 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.3%
|
| Cusip: | 22550B3Q4
|
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