Published on 7/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.07 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, July 5 – Credit Suisse AG, London Branch priced $1.07 million of contingent coupon callable yield notes due June 14, 2024 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8% per year unless any index closes below its 60% coupon barrier on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes will be callable at par on any interest payment date beginning March 14, 2018.
Credit Suisse Securities (USA) 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $1,065,000
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| Maturity: | June 14, 2024
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| Coupon: | 8% per year, payable quarterly, unless any index closes below 60% coupon barrier level on observation date for quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index finishes below 60% knock-in level, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any interest payment date other than the maturity date beginning March 14, 2018
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| Initial levels: | 2,433.14 for S&P, 1,396.674 for Russell, 3,548.84 for Euro Stoxx
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| Knock-in levels: | 1,459.884 for S&P, 838.0044 for Russell, 2,129.304 for Euro Stoxx; 60% of initial levels
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| Strike date: | June 7
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| Pricing date: | June 13
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| Settlement date: | June 14
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.85%
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| Cusip: | 22550BAP8
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