Published on 1/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.31 million contingent coupon callables on S&P, Russell
By Tali Rackner
Minneapolis, Jan. 26 – Credit Suisse AG, London Branch, priced $3.31 million of contingent coupon callable yield notes due Jan. 26, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 7.5% if each index closes at or above its 70% coupon barrier on an observation date for that period.
The notes are callable at par on any semiannual call date after six months.
The payout at maturity will be par unless any either finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $3,305,000
|
| Maturity: | Jan. 26, 2021
|
| Coupon: | 7.5% per year, payable semiannually if both indexes close at or above coupon barrier levels during that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its 70% knock-in level, in which case full exposure to losses of the lesser-performing index
|
| Call option: | After six months, callable at par on any semiannual call date
|
| Initial index levels: | 2,810.30 for S&P 500 and 1,597.628 for Russell 2000
|
| Coupon barrier/knock-in levels: | 1,967.21 for S&P 500 and 1,118.3396 for Russell 2000, 70% of initial levels
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22550W4M6
|
|
|
|
|
© 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.
