Published on 11/17/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $354,000 trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Nov. 17 – Credit Suisse AG, London Branch priced $354,000 of trigger callable contingent yield notes with daily coupon observation due Nov. 20, 2018 linked to the least 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 an annual rate of 10% if each index closes at or above its coupon barrier, 65% of its initial level, on each day during that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless any index finishes below its 65% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger callable contingent yield notes with daily coupon observation
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $354,000
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Maturity: | Nov. 20, 2018
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Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier on each day during quarter
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case full exposure to any losses of worst performing index
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Call option: | At par on quarterly
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Initial levels: | 2,164.45 for S&P, 1,282.394 for Russell and 3,030.02 for Stoxx
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Coupon barriers: | 1,406.89 for S&P, 833.556 for Russell and 1,969.51 for Stoxx; 65% of initial levels
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Downside thresholds: | 1,406.89 for S&P, 833.556 for Russell and 1,969.51 for Stoxx; 65% of initial levels
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Pricing date: | Nov. 11
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Settlement date: | Nov. 18
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Distributor: | UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 22548T653
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