Published on 2/21/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $823,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Credit Suisse AG, London Branch priced $823,000 of contingent coupon callable yield notes due Feb. 21, 2023 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7.7% if each 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 on or after Aug. 20, 2018.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be exposed to any losses of the least-performing index.
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: | Russell 2000, Dow Jones industrial average, S&P 500
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| Amount: | $823,000
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| Maturity: | Feb. 21, 2023
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| Coupon: | 7.7% per year, payable quarterly if each 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 any index finishes below its knock-in level, in which case investors will be exposed to any losses of least performing index
|
| Call option: | At par on any coupon payment date on or after Aug. 20, 2018
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| Initial levels: | 2,698.63 for S&P, 24,893.14 for Dow and 1,522.096 for Russell
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| Barrier/knock-in levels: | 1,619.187 for S&P, 14,936.094 for Dow and 913.2576 for Russell; 60% of initial levels
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| Pricing date: | Feb 14
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| Settlement date: | Feb. 20
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.925%
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| Cusip: | 22550WE94
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