Published on 3/23/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.36 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 23 – Credit Suisse AG, London Branch priced $1.36 million of contingent coupon callable yield notes due March 27, 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 7.6% if each index closes at or above its barrier level, 70% of its initial level, on each day that quarter.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 50% knock-in level, in which case investors will be exposed to any losses of the least-performing index.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| 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: | $1,355,000
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| Maturity: | March 27, 2023
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| Coupon: | 7.6% per year, payable quarterly if each index closes at or above its barrier level on each day that quarter
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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
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| Initial levels: | 2,711.93 for S&P, 1,579.303 for Russell and 24,682.31 for Dow
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| Barrier levels: | 1,898.351 for S&P, 1,105.5121 for Russell and 17,277.617 for Dow; 70% of initial levels
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| Knock-in levels: | 1,355.965 for S&P, 789.6515 for Russell and 12,341.155 for Dow; 50% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.7%
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| Cusip: | 22550WKR7
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