Published on 4/10/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.77 million contingent coupon callable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 10 – Credit Suisse AG, London Branch priced $1.77 million of contingent coupon callable yield notes due March 31, 2020 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.5% if each index closes at or above its barrier level, 65% of its initial level, on a related observation date.
The notes will be callable at par on any observation 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 lesser-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 index, Euro Stoxx 50 index and MSCI Emerging Markets index
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Amount: | $1.77 million
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Maturity: | March 31, 2020
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Coupon: | 9.5% per year, payable quarterly if each index closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its knock-in, in which case full exposure to any losses of the least-performing index
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Call option: | At par on any observation date
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Initial levels: | 1,543.717 for Russell and 3,278.72 for Stoxx, 1,182.28 for Emerging Markets
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Barriers/knock-in levels: | 1,003.41605 for Russell and 2,131.138 for Stoxx, 768.482 for Emerging Markets; 65% of initial levels
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Pricing date: | March 26
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Settlement date: | March 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22550WHH3
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