Published on 12/27/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on Russell, Stoxx
By Tali Rackner
Minneapolis, Dec. 27 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due Nov. 24, 2020 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.5% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
Beginning Feb. 26, 2018, the notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index.
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 and Euro Stoxx 50
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| Amount: | $500,000
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| Maturity: | Nov. 24, 2020
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| Coupon: | Each quarter, notes pay contingent coupon at rate 8.5% per year if each index closes at or above knock-in level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
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| Call option: | Beginning Feb. 26, 2018, at par on any interest payment date
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| Initial index levels: | 1,503.396 for Russell 2000 and 3,561.41 for Euro Stoxx
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| Knock-in/barrier levels: | 1,127.547 for Russell 2000 and 2,671.0575 for Euro Stoxx; 75% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 22
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22550BNV1
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