Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $620,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 7 – Credit Suisse AG, London Branch priced $620,000 of contingent coupon callable yield notes due June 30, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 5.5% per year unless either index closes below its 60% coupon barrier on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes will be callable at par on any interest payment date.
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: | S&P 500 index, Russell 2000 index
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Amount: | $620,000
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Maturity: | June 30, 2020
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Coupon: | 5.5% per year, payable quarterly, unless either index closes below 60% coupon barrier level on observation date for quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless either index finishes below 60% knock-in level, in which case 1% loss for each 1% decline of worse performing index
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Call option: | At par on any interest payment date other than the maturity date
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Initial levels: | 2,419.38 for S&P, 1,403.522 for Russell
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Knock-in levels: | 1,451.628 for S&P, 842.1132 for Russell; 60% of initial levels
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.075%
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Cusip: | 22550B6D0
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