Published on 2/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $252,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Credit Suisse AG, London Branch priced $252,000 of contingent coupon callable yield notes due Jan. 31, 2023 linked to the lowest performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6% if each index closes at or above its barrier level, 60% of its initial level, on a quarterly observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will be exposed to any losses of the least-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, Euro Stoxx 50, S&P 500
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| Amount: | $252,000
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| Maturity: | Jan. 31, 2023
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| Coupon: | 6% per year, payable quarterly if each index closes at or above its barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case investors will be exposed to any losses of least performing index
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| Call option: | At par on any coupon payment date after one year
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| Initial levels: | 1,608.058 for Russell, 2,872.87 for S&P, 3,647.41 for Stoxx
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| Barrier/knock-in levels: | 964.8348 for Russell, 1,723.722 for S&P, 2,188.446 for Stoxx; 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 4.125%
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| Cusip: | 22550W3A3
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