Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.19 million contingent coupon callable yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 21 – Credit Suisse AG, London Branch priced $1.19 million of contingent coupon callable yield notes due March 21, 2023 linked to the lowest 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 monthly coupon at an annualized rate of 9.25% if each index closes at or above its barrier level, 75% of its initial level, on an observation date.
The notes will be callable at par on any monthly observation date after three months.
The payout at maturity will be par unless either index finishes below its 65% 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
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,186,000
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| Maturity: | March 21, 2023
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| Coupon: | 9.25% per year, payable monthly if each index closes at or above its barrier level on observation date
|
| Price: | Par
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| 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 monthly observation date after three months
|
| Initial index levels: | 1,586.048 for Russell 2000 and 2,752.01 for S&P 500
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| Barriers levels: | 1,189.536 for Russell 2000 and 2,064.0075 for S&P 500; 75% of initial levels
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| Knock-in levels: | 1,030.9312 for Russell 2000 and 1,788.8065 for S&P 500; 65% of initial levels
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| Pricing date: | March 16
|
| Settlement date: | March 21
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22550WKU0
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