Published on 1/24/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.1 million contingent coupon callable yield notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – Credit Suisse AG, London Branch, priced $1.1 million of contingent coupon callable yield notes due July 27, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at the rate of 7.25% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes are callable, in whole but not in part, at par plus any coupon on any semiannual observation date.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
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: | Dow Jones industrial average, Russell 2000 and S&P 500
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| Amount: | $1.1 million
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| Maturity: | July 27, 2023
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| Coupon: | 7.25% per year, payable semiannually if each underlying asset closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case exposure to decline of least-performing index
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| Call option: | Callable in whole at par plus any coupon on any semiannual observation date
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| Initial levels: | 29,348.1 for Dow, 1,699.635 for Russell, 3,329.62 for S&P
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| Coupon barrier levels: | 22,011.075 for Dow, 1,274.72625 for Russell, 2,497.215 for S&P, 75% of initial levels
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| Knock-in levels: | 22,011.075 for Dow, 1,274.72625 for Russell, 2,497.215 for S&P, 75% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22551NJH0
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