Published on 12/19/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.54 million contingent coupon callable yield notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Dec. 19 – Credit Suisse AG, London Branch priced $1.54 million of contingent coupon callable yield notes due Dec. 14, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7.8% if the index closes at or above its barrier level, 70% of its initial level, on a quarterly observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par unless the index finishes below its 50% knock-in level, in which case investors will be exposed to any losses.
Incapital LLC is the placement agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying index: | S&P 500
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Amount: | $1,542,000
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Maturity: | Dec. 14, 2026
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Coupon: | 7.8% per year, payable quarterly if index closes at or above its barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the index finishes below its knock-in level, in which case investors will be exposed to any losses
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Call option: | At par on any coupon payment date after one year
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Initial level: | 2,256.96
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Barrier level: | 1,579.87, 70% of initial level
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Knock-in level: | 1,128.48, 50% of initial level
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Pricing date: | Dec. 12
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Settlement date: | Dec. 14
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Agent: | Incapital LLC
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Fees: | 3.55%
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Cusip: | 22548QQ40
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