Published on 12/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.85 million contingent coupon callable yield notes on Russell, Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – Credit Suisse AG, London Branch priced $1.85 million of contingent coupon callable yield notes due Dec. 27, 2019 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 10.35% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on every day that quarter.
Beginning March 27, 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 75% 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: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $1.85 million
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| Maturity: | Dec. 27, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10.35% per year if each index closes at or above knock-in level on every day 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 March 27, 2018, at par on any interest payment date
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| Initial levels: | 3,552.65 for Stoxx, 1,540.076 for Russell, 2,679.25 for S&P
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| Knock-in/barrier levels: | 2,678.085 for Stoxx, 1,155.057 for Russell, 2,009.4375 for S&P; 75% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 27
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22550W2N6
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