Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.31 million contingent coupon callable notes on indexes
By Tali Rackner
Minneapolis, Jan. 2 – Credit Suisse AG, London Branch priced $3.31 million of contingent coupon callable yield notes due Dec. 29, 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.
The notes pay a semiannual contingent coupon at the rate of 7.25% per year unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes may will be called at par if each index closes at or above its initial index level on any contingent coupon date beginning June 25, 2018.
The payout at maturity will be par unless either index closes below its 70% knock-in level, in which case the payout will be par plus the return 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: | $3,307,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | Notes pay semiannual contingent coupon at rate of 7.25% per year unless either index closes below coupon barrier level on observation date for that period
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless either index closes below knock-in level, in which case par plus return of lesser-performing index
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| Call: | Callable at par if each index closes at or above initial index level on any contingent coupon date beginning June 25, 2018
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| Initial index levels: | 1,547.107 for Russell and 3,570.78 for Euro Stoxx
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| Knock-in/barrier levels: | 1,082.9749 for Russell and 2,499.546 for Euro Stoxx; 70% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.4%
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| Cusip: | 22550BRL9
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