Published on 9/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.42 million contingent coupon callables tied to Stoxx, Russell
By Susanna Moon
Chicago, Sept. 28 – Credit Suisse AG, London Branch priced $3.42 million of contingent coupon callable yield notes due Sept. 29, 2020 linked to the lowest performing of 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 semiannual coupon at an annualized rate of 8.5% if each asset closes at or above its 70% coupon barrier on an observation date for that period.
The notes are callable at par on any coupon payment date after six months.
The payout at maturity will be par unless either asset finishes below its 70% knock-in level, in which case investors will be exposed to any losses of the worse performing asset.
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: | Russell 2000 index and Euro Stoxx 50
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| Amount: | $3,415,000
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| Maturity: | Sept. 29, 2020
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| Coupon: | 8.5% per year, payable semiannually if each index closes at or above 70% coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case exposure to any losses of worse performing index
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| Call option: | At par on any coupon payment date beginning March 29, 2018
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| Initial levels: | 1,450.781 for Russell, 3,541.42 for Stoxx
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| Knock-in levels: | 1,015.5467 for Russell, 2,478.994 for Stoxx; 70% of initial levels
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22550BG23
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