Published on 3/29/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.88 million contingent coupon callable yield notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, March 29 – Credit Suisse AG, London Branch priced $1.88 million of contingent coupon callable yield notes due March 29, 2021 linked to the lesser 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 8.5% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be callable at par on any semiannual observation date beginning Sept. 20, 2018.
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
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $1,878,000
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| Maturity: | March 29, 2021
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| Coupon: | 8.5% per year, payable semiannually 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, in which case full exposure to any losses of the lesser-performing index
|
| Call option: | At par on any semiannual observation date beginning Sept. 20, 2018
|
| Initial levels: | 1,510.083 for Russell and 3,298.07 for Stoxx
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| Barriers/knock-in levels: | 1,057.058 for Russell and 2,308.649 for Stoxx; 70% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.4%
|
| Cusip: | 22550WG68
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