Published on 9/20/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $550,000 contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Sept. 20 – Credit Suisse AG, London Branch priced $550,000 of contingent coupon callable yield notes due June 21, 2021 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7.5% if each index closes at or at or above its coupon barrier level, 70% 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 60% 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
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $550,000
|
| Maturity: | June 21, 2021
|
| Coupon: | 7.5% per year, payable quarterly if each index closes at or at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its 60% 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: | 3,005.70 for S&P, 1,578.290 for Russell and 27,110.80 for Dow
|
| Coupon barrier levels: | 2,103.99 for S&P, 1,104.803 for Russell and 18,977.56 for Dow, 70% of initial levels
|
| Knock-in levels: | 1,803.42 for S&P, 946.974 for Russell, 16,266.48 for Dow, 60% of initial levels
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.735%
|
| Cusip: | 22552FX64
|
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