Published on 2/23/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.1 million contingent coupon callable yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – Credit Suisse AG, London Branch priced $3.1 million of contingent coupon callable yield notes due Feb. 26, 2021 linked to the lowest performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at an annualized rate of 9.25% if each index closes at or above its barrier level, 70% of its initial level, on an observation date.
The notes will be callable at par on any semiannual call date.
The payout at maturity will be par unless either index 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: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $3.1 million
|
| Maturity: | Feb. 26, 2021
|
| Coupon: | 9.25% per year, payable semiannually if each index closes at or above its barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the lesser-performing index
|
| Call option: | At par on any semiannual call date
|
| Initial index levels: | 3,426.80 for Stoxx, 1,543.551 for Russell
|
| Barriers levels: | 2,398.76 for Stoxx, 1,080.4875 for Russell; 70% of initial levels
|
| Knock-in levels: | 2,398.76 for Stoxx, 1,080.4875 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22550WC70
|
|
|
© 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.
