Published on 11/2/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.08 million 9% contingent yield trigger callables tied to indexes
By Susanna Moon
Chicago, Nov. 2 – Credit Suisse AG, London Branch priced $8.08 million of trigger callable contingent yield notes with daily coupon observation due Oct. 30, 2020 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 annual rate of 9% if each index closes at or above its 70% coupon barrier on each trading date for that quarter.
The notes are callable at par on any quarterly observation end date other than the final date.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will be exposed to any losses of the worst performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $8,075,000
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 9% per year, payable quarterly if each index closes at or above 70% | coupon barrier on each trading date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any index finishes 60% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any quarterly observation end date other than final date
|
| Initial index levels: | 2,557.15 for S&P, 1,493.478 for Russell and 3,591.46 for Stoxx
|
| Coupon barriers: | 1,790.01 for S&P, 1,045.435 for Russell and 2,514.02 for Stoxx; 70% of initial levels
|
| Downside thresholds: | 1,534.29 for S&P, 896.087 | for Russell and 2,154.88 for Stoxx; 60% of initial levels
|
| Strike date: | Oct. 25
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22549D509
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
