Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $514,000 contingent coupon callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – Credit Suisse AG, London Branch priced $514,000 of contingent coupon callable yield notes due Oct. 29, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a coupon at an annualized rate of 6% if each index closes at or above its coupon barrier, 70% of its initial level, on the 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 any index finishes below its 70% 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $514,000
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| Maturity: | Oct. 29, 2021
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| Coupon: | 6% per year, payable semiannually if each index closes at or above its coupon barrier on related 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 least-performing index
|
| Call option: | In whole at par on any contingent coupon payment date
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| Initial index levels: | 2,750.57 for S&P 500 and 1,500.396 for Russell 2000
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| Barrier levels: | 1,893.899 for S&P 500 and 1,050.2772 for Russell 2000; 70% of initial levels
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| Knock-in levels: | 1,893.899 for S&P 500 and 1,050.2772 for Russell 2000; 70% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22551LF54
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