Published on 3/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $724,000 contingent coupon callable yield notes on index, ETFs
By Wendy Van Sickle
Columbus, Ohio, March 26 – Credit Suisse AG, London Branch priced $724,000 of contingent coupon callable yield notes due March 28, 2022 linked to the Russell 2000 index, the iShares MSCI EAFE ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 7.5% per year unless any asset closes below its 60% coupon barrier on the observation date that month.
The payout at maturity will be par unless any asset finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing asset.
The notes will be callable at par on any quarterly call date beginning in March 2019.
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: | Russell 2000 index, iShares MSCI EAFE ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $724,000
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| Maturity: | March 28, 2022
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| Coupon: | 7.5% per year, payable monthly unless any asset closes below coupon barrier on observation date that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any asset finishes below knock-in level, in which case 1% loss for each 1% decline of worst performingasset
|
| Call option: | At par on any quarterly call date after one year
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| Initial levels: | 1,579.303 for Russell, $70.00 for EAFE, $35.49 for oil and gas
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| Coupon barriers: | 947.5818 for Russell, $42.00 for EAFE, $21.294 for oil and gas; 60% of initial levels
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| Knock-in levels: | 947.5818 for Russell, $42.00 for EAFE, $21.294 for oil and gas; 60% of initial levels Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.55%
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| Cusip: | 22550WHM2
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