Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.25 million contingent coupon callable yield notes on indexes
By Kiku Steinfeld
Chicago, Aug. 20 – Credit Suisse AG, London Branch priced $1.25 million of contingent coupon callable yield notes due July 29, 2022 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.
The notes will pay a quarterly coupon at an annualized rate of 4.55% if each index closes at or at or above its coupon barrier level, 50% of its initial level, on a related observation date.
The notes may be called, in whole but not in part, at par plus any coupon on any quarterly early redemption date.
The payout at maturity will be par unless any index closes below its 50% knock-in level, in which case investors will fully participate in the return of least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| 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: | $1,250,000
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| Maturity: | July 29, 2022
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| Coupon: | 4.55% per year, payable quarterly if each index closes at or at or above its coupon barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its 50% knock-in level, in which case investors will fully participate in the return of least-performing index
|
| Call: | At par plus any coupon on any quarterly redemption date
|
| Initial levels: | 2,985.03 for S&P, 1,544.783 for Russell and 3,489.92 for Stoxx
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| Coupon barrier levels: | 1,492.515 for S&P, 772.3915 for Russell and 1,744.96 for Stoxx, 50% of initial levels
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| Knock-in levels: | 1,492.515 for S&P, 772.3915 for Russell and 1,744.96 for Stoxx, 50% of initial levels
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| Pricing date: | July 22
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| Settlement date: | July 29
|
| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22552FPL0
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