Published on 5/31/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, May 31 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due May 28, 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 coupon at an annualized rate of7.5%, payable quarterly, if each index closes at or above its coupon barrier level, 60% of its initial level, on a related observation date.
The notes may be called in whole, but not in part, at par on any contingent coupon payment date.
The payout at maturity will be par unless either index finishes below its 60% 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: | $500,000
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| Maturity: | May 28, 2021
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| Coupon: | 7.5% per year, payable quarterly 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 level, in which case full exposure to any losses of the lesser-performing index
|
| Call: | Notes may be called at par on any contingent coupon payment date
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| Initial levels: | 3,521.76 for Stoxx and 1,628.222 for Russell
|
| Coupon barrier/knock-in levels: | 2,465.232 for Stoxx and 1,139.7554 for Russell; 70% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22550WSY4
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