Published on 7/31/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $850,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 31 – Credit Suisse AG, London Branch, priced $850,000 of contingent coupon callable yield notes due July 27, 2020 linked to the S&P 500 index, 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 quarterly coupon of 7% per year unless any index closes below its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes will be callable at par on any interest payment date.
The payout at maturity will be par unless any 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $850,000
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| Maturity: | July 27, 2020
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| Coupon: | 7% per year, payable quarterly, unless any index closes below coupon barrier level on observation date for period
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
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| Call option: | At par on any interest payment date
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| Initial levels: | 2,801.83 for S&P, 1,686.808 for Russell, 3,460.03 for Euro Stoxx
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| Coupon barrier/knock-ins: | 1,961.281 for S&P, 1,187.7656 for Russell, 2,422.03 for Euro Stoxx; 70% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22550BVM2
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