Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $645,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 7 – Credit Suisse AG, London Branch priced $645,000 of contingent coupon callable yield notes due Dec. 30, 2020 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 8.25% per year unless any index closes below its 65% coupon barrier on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 65% 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.
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: | $645,000
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| Maturity: | Dec. 30, 2020
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| Coupon: | 8.25% per year, payable quarterly, unless any index closes below 65% coupon barrier level on observation date for quarter
|
| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index finishes below 65% knock-in level, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any interest payment date other than the maturity date
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| Initial levels: | 2,419.38 for S&P, 1,403.522 for Russell, 3,538.32 for Euro Stoxx
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| Knock-in levels: | 1,572.597 for S&P, 912.2893 for Russell, 2,299.908 for Euro Stoxx; 65% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22550BA37
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