Published on 2/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.15 million 8.4% contingent coupon callables tied to indexes
By Susanna Moon
Chicago, Feb. 27 – Credit Suisse AG, London Branch priced $2.15 million of contingent coupon callable yield notes due Aug. 13, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each index closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst 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 assets: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2.15 million
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| Maturity: | Aug. 13, 2020
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| Coupon: | 8.4% annualized, payable quarterly if each index closes at or above its 65% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index ends below knock-in level, in which full exposure to the losses of the worst performing index
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| Call option: | At par on any interest payment date beginning May 11, 2018
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| Initial levels: | 2,581 for S&P, 1,463.793 for Russell, 3,377.30 for Stoxx
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| Trigger levels: | 1,677.65 for S&P, 951.46545 for Russell, 2,195.245 for Stoxx, 65% of initial levels
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22550WDL8
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