Published on 12/4/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $689,000 6.5% contingent coupon callables on S&P, Russell, Dow
By Susanna Moon
Chicago, Dec. 4 – Credit Suisse AG, London branch priced $689,000 of contingent coupon callable yield notes due Nov. 19, 2021 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each underlying index closes at or above its 60% coupon barrier on each trading day for that quarter.
The notes are callable at par on any determination date after six months.
The payout at maturity will be par unless any underlying index closes below its 60% 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: | Russell 2000, S&P 500 and Dow Jones industrial average
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| Amount: | $689,000
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| Maturity: | Nov. 19, 2021
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| Coupon: | 6.5% annualized, payable quarterly if each index closes at or above 60% 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 at or 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 determination date beginning May 20, 2019
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| Initial levels: | 1,502.506 for Russell, 2,701.58 for S&P and 25,080.50 for Dow
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| Knock-in levels: | 901.5036 for Russell, 1,620.948 for S&P and 15,048.30 for Dow, 60% of initial levels
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 19
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| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.7%
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| Cusip: | 22551LL32
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