Published on 4/3/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $95,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 3 – Credit Suisse AG, London Branch priced $95,000 of contingent coupon callable yield notes due March 29, 2023 linked to the lowest 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 quarterly coupon at an annualized rate of 6.5% if each index closes at or above its barrier level, 60% of its initial level, on each day that quarter.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will be exposed to any losses of the least-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 indexes: | Russell 2000, Euro Stoxx 50, S&P 500
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| Amount: | $95,000
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| Maturity: | March 29, 2023
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| Coupon: | 6.5% per year, payable quarterly if each index closes at or above its barrier level on each day that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in level, in which case investors will be exposed to any losses of least performing index
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 2,658.55 for S&P, 1,543.717 for Russell and 3,278.72 for Stoxx
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| Barrier levels: | 1,595.13 for S&P, 926.2302 for Russell and 1,967.232 for Stoxx; 60% of initial levels
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| Knock-in levels: | 1,595.13 for S&P, 926.2302 for Russell and 1,967.232 for Stoxx; 60% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 4.125%
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| Cusip: | 22550WG92
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