Published on 5/26/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.88 million contingent coupon callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., May 26 – Credit Suisse AG, London Branch priced $1.88 million of contingent coupon callable yield notes due May 30, 2019 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 at the rate of 9.7% per year unless any index closes below its knock-in level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its knock-in level, in which case investors will be fully exposed to the decline 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: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $1.88 million
|
| Maturity: | May 30, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.7% per year unless any index closes below knock-in level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 2,404.39 for S&P 500, 1,382.509 for Russell 2000 and 3,586.62 for Euro Stoxx 50
|
| Knock-in levels: | 1,803.29 for S&P 500, 1,036.882 for Russell 2000 and 2,689.97 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22550B5E9
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