Published on 6/17/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $590,000 contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., June 17 – Credit Suisse AG, London Branch priced $590,000 of contingent coupon callable yield notes due June 19, 2023 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at an annualized rate of 5.25% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.
The notes may be called in whole, but not in part, at par on any quarterly determination date after one year.
The payout at maturity will be par unless any index finishes below its 60% 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
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $590,000
|
| Maturity: | June 19, 2023
|
| Coupon: | 5.25% per year, payable monthly if each index closes at or above its coupon barrier on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any 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 quarterly determination date after one year
|
| Initial levels: | 2,891.64 for S&P, 1,535.804 for Russell, 7,510.684 for Nasdaq
|
| Coupon barrier levels: | 1,734.984 for S&P, 921.4824 for Russell, 4.506.4104 for Nasdaq; 60% of initial levels
|
| Knock-in levels: | 1,734.984 for S&P, 921.4824 for Russell, 4.506.4104 for Nasdaq; 60% of initial levels
|
| Pricing date: | June 13
|
| Settlement date: | June 18
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552FJW3
|
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