Published on 2/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.9 million contingent coupon callable yield notes linked to indexes
Chicago, Feb. 6 – Credit Suisse AG, London Branch priced $1.9 million of contingent coupon callable yield notes due Feb. 3, 2021 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.5% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par plus any coupon on quarterly redemption dates beginning May 6 and ending Nov. 6, 2020.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| 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, Russell 2000 and Euro Stoxx 50
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| Amount: | $1,900,000
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| Maturity: | Feb. 3, 2021
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10.5% per year if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
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| Call option: | At par plus coupon on quarterly dates beginning May 6, 2019 and ending Nov. 6, 2020
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| Initial index levels: | 2706.53 for S&P 500, 1502.054 for Russell 2000 and 3171.12 for Euro Stoxx 50
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| Knock-in/coupon barrier levels: | 2029.90 for S&P 500, 1126.541 for Russell 2000 and 2378.34 for Euro Stoxx 50; 75% of initial levels
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 6
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
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| Cusip: | 22551LX54
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