Published on 2/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $10.84 million contingent coupon callable notes on indexes
By Devika Patel
Knoxville, Tenn., Feb. 28 – Credit Suisse AG, London Branch, priced $10.84 million of contingent coupon callable yield notes due Feb. 28, 2020 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 9.2% per year unless any index closes below its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the final coupon unless any index finishes below its barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index.
Beginning May 30, 2017, the notes will be callable at par on any interest payment date other than the maturity date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $10,842,000
|
| Maturity: | Feb. 28, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.2% per year unless any index closes below barrier level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index
|
| Call option: | At par on any interest payment date other than the maturity date beginning May 30, 2017
|
| Initial levels: | 2,363.81 for S&P, 1,394.623 for Russell, 3,333.96 for Euro Stoxx
|
| Barrier/knock-in levels: | 1,536.4765 for S&P, 906.50495 for Russell, 2,167.074 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
