Published on 4/20/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $970,000 contingent coupon callable yield notes on indexes
New York, April 20 – Credit Suisse AG, London Branch priced $970,000 of 7.75% contingent coupon callable yield notes due Jan. 21, 2020 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 7.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Credit Suisse may call the notes at par on any quarterly coupon payment date starting on Oct. 22, 2018.
The payout at maturity will be par unless any index finishes below its 70% 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: | $970,000
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| Maturity: | Jan. 21, 2020
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| Coupon: | 7.75% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date for 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
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| Call option: | Starting Oct. 232, 2018 at par on any quarterly coupon payment date
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| Initial levels: | 2,706.39 for S&P, 1,579.802 for Russell and 3,477.91 for Stoxx
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| Coupon barrier levels: | 1,894.473 for S&P, 1,105.8614 for Russell and 2,434.537 for Stoxx; 70% of initial levels
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| Knock-in levels: | 1,894.473 for S&P, 1,105.8614 for Russell and 2,434.537 for Stoxx; 70% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 20
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.125%
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| Cusip: | 22550WPY7
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