Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.73 million 13% contingent coupon callables on S&P, Russell, Nasdaq
By Susanna Moon
Chicago, Oct. 30 – Credit Suisse AG, London branch priced $3.73 million of contingent coupon callable yield notes due Oct. 22, 2020 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any underlying index closes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worst 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: | S&P 500 index, Russell 2000, Nasdaq-100
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| Amount: | $3,725,000
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| Maturity: | Oct. 22, 2020
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| Coupon: | 13% annualized, payable quarterly if each index closes at or above 75% coupon barrier on each trading day for that quarter
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| Price: | Par
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| Payout at maturity: | If each index closes above knock-in level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any interest payment date
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| Initial levels: | 2,809.21 for S&P, 1,589.604 for Russell, 7,278.631 for Nasdaq
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| Trigger levels: | 2,106.9075 for S&P, 1,192.203 for Russell, 5,458.97325 for Nasdaq, 75% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 1.5%
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| Cusip: | 22551LFJ4
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