Published on 7/5/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.04 million contingent coupon callable yield notes on indexes
By Devika Patel
Knoxville, Tenn., July 5 – Credit Suisse AG, London Branch, priced $2.04 million of contingent coupon callable yield notes due June 29, 2021 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon of 6.75% per year unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that period.
Beginning Dec. 19, 2018, the notes will be callable at par on any interest payment date other than the maturity date.
The payout at maturity will be par unless either index finishes below its barrier level, 70% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $2,042,000
|
| Maturity: | June 29, 2021
|
| Coupon: | 6.75% per year, payable semiannually, unless either index closes below coupon barrier level on observation date for period
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par on any interest payment date other than the maturity date beginning Dec. 19, 2018
|
| Initial levels: | 1,685.577 for Russell, 3,441.60 for Euro Stoxx
|
| Coupon barrier/knock-in levels: | 1,179.9039 for Russell, 2,409.12 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | June 22
|
| Settlement date: | June 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.4%
|
| Cusip: | 22550WW29
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
