Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.9 million contingent coupon callable yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, June 19 – Credit Suisse AG, London Branch priced $2.9 million of contingent coupon callable yield notes due June 19, 2019 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 contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its 65% coupon barrier 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 65% knock-in level, in which case investors will be fully exposed to the decline of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $2.9 million
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| Maturity: | June 19, 2019
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 65% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
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| Call option: | At par on any interest payment date
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| Initial levels: | 1,417.57 for Russell, 3,547.15 for Stoxx, 2,437.92 for S&P
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| Knock-in levels: | 921.422 for Russell, 2,305.65 for Stoxx, 1,584.65 for S&P, 65% of initial levels
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| Pricing date: | June 14
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| Settlement date: | June 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 22550BAY9
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